Recession phase

This refers to the news report, ‘Inflation falls to 12-year low at 1.6 percent’ (November 3). The continuing inflation means that our economy has entered into a deep recessionary phase.
Stagnant agriculture and manufacturing output, falling exports, low tax collection, dismal credit off take by the private sector, declining job opportunities, decreasing investment, lower FDI and slower growth in remittances, etc are all signs of a struggling economy and difficult times ahead.
Arif Majeed
Karachi