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Friday October 04, 2024

Soaring inflation leaves society struggling

By Our Correspondent
August 05, 2024
An undated image of consumers buying fresh vegetables from a local market. — AFP/File
An undated image of consumers buying fresh vegetables from a local market. — AFP/File

Rawalpindi:The underprivileged section of society is currently experiencing a situation similar to famine due to soaring inflation on all food items in the twin cities of Rawalpindi and Islamabad for over two weeks. However, government officials are painting a rosy picture by stating that inflation has decreased to 11.1 percent in a month, which seems absurd.

Despite the claims of officials, the public is suffering from steep price hikes. "Everyone is worried," said 39-year-old Muhammad Nawaz. "Where will we get the money from? Personal debt will only go up." Inflation has been on the rise since the beginning of the year, following fiscal adjustments mandated by the International Monetary Fund (IMF).

A press conference held by the Parliamentary Committee's convener, Bilal Azhar Kiani, claimed that the inflation rate had dropped to 11.1 percent, the lowest in three years. However, a market survey conducted by 'The News' revealed that the prices of vegetables were exorbitant, with some selling at rates comparable to gold.

One kilogram of pumpkin gourd (kaddoo) is being sold at Rs340, Arvi at Rs260, and peas (matar) at Rs400. Similarly, the price of other essential items, such as onion, cucumber, and ginger, has also skyrocketed. The butchers are selling mutton at Rs2500 per kilogram and beef at Rs1300 per kilogram and chicken is being sold at Rs790 per kilogram.

The district administration's orders to control prices have been ignored. For instance, the naan makers are selling 'Roti' for Rs20 and 'Naan' for Rs25, in violation of the price fixed by the Punjab Chief Minister at Rs14.

Deputy Commissioner of Rawalpindi, Hasan Waqar Cheema, has warned that strict legal action will be taken against naan makers selling 'Roti' at inflated prices. The public in Rawalpindi and Islamabad have expressed strong protests against the rampant inflation and have urged the authorities to take action. They bemoaned that the current government has failed to control inflation, resulting in a situation akin to a famine for the public.