Though inflation in Pakistan has declined recently, prices are still at alarmingly high levels, severely impacting the lives of ordinary citizens. The high prices are driven by multiple factors, including the depreciation of the rupee, increasing energy costs, and inefficiencies in the agricultural sector. These factors have led to a high cost of living, eroding purchasing power and pushing more people into poverty. The government's response has included raising interest rates and providing subsidies on essential goods, but these measures have been largely short-term fixes.
Investing in agricultural productivity, diversifying energy sources, and improving the balance of payments through export growth are crucial for lowering the cost of living. In the meantime, expanding social safety nets is vital to protect the most vulnerable populations. A comprehensive approach is needed to stabilize the economy and ensure that all Pakistanis can afford basic necessities.
Hafsa Asif
Islamabad
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