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Saturday April 27, 2024

Ramazan for all?

Over the last two years, the Pakistani economy has faced indescribable challenges

By Editorial Board
March 12, 2024
A person counts Rs100 notes in this image. — AFP/File
A person counts Rs100 notes in this image. — AFP/File

As Ramazan starts in the country today, bringing forth hope for some peace and introspection, it also brings a whole new set of financial challenges for a majority of people in the country – inflation being the most common enemy for all. If the past is anything to go by, state authorities also become ineffective when it comes to taking action against hoarders and profiteers who profit off of people’s vulnerabilities. Last year, two heart-wrenching incidents highlighted the extent of the suffering of people. In a ration drive organized by a private factory in Karachi, dozens of people, including children, were killed in a stampede. This was similar to the incident that happened in different districts of Punjab where flour distribution drives led to stampedes, leaving dozens of people dead.

People in our country are barely getting by, and their plight largely remains hidden. Last year’s incident showed how people were ready to put their lives in danger to get one bag of flour and other basic necessities. That the Pakistani economy is in a mess is not a secret. Many economists have pointed out the flaws that are plaguing the economy, urging authorities to take timely measures to put an end to the suffering of the people. Over the last two years, the Pakistani economy has faced indescribable challenges, tiptoeing nearer to a default. While the immediate threat of default has been averted to some degree, the economy is not any better. There have also been cases where dejected people killed their entire families before taking their lives because of the financial crisis. Such cases underscore the severity of the situation. In the political tug-of-war, the people of Pakistan have been badly affected.

Ramazan teaches empathy, urging people to understand the plight of their fellow countrymen. While charity drives are a good step, all such initiatives should be organized respectfully, ensuring that people’s dignity is not harmed. It is good to note that PM Shehbaz Sharif has increased the volume of the Ramazan Relief Package from Rs7.5 billion to Rs12.5 billion. Punjab CM Maryam Nawaz Sharif can also be seen visiting control rooms to keep a check on the distribution of relief packages at people’s doorsteps. The other provinces are also urged to initiate similar programmes to ensure that all people are able to observe Ramazan in peace. Inflation in Pakistan is already in double-digits (23.10 per cent). Last year, many charity organizations said they had received fewer donations because of inflation. There is uncertainty and stress among people, especially small-scale business owners who are burdened by a hike in the prices of essential commodities. Because of an exponential increase in prices, many individuals who used to carry out charity drives are unable to continue this practice. The public and private sectors have to come together to minimize people’s financial stress and work towards building a society where people are economically secure.