Stagflation

Pakistan is going through a period of stagflation, which means people are losing purchasing power as well as being unable to find jobs since economic growth is stagnant. It is not difficult to see why this has happened. The policy choices of the government to achieve stabilization have suffocated the economy as a whole. Increasing interest rates, taxes and energy tariffs have raised the cost of living while simultaneously slowing down the economy by shrinking spending and investment. It is high time to review the economic policy and breakout from this impasse.

Sohail Ur Rashid Sarwar

Rawalpindi