Monday November 29, 2021

Rising inflation

October 18, 2021

The PTI government has failed to control rising inflation. According to the most recent news reports, the government is planning to increase electricity prices by Rs1.39 per unit. Also, the prices of cooking oil and other related items have also gone up. Another price bomb in the shape of fuel prices has been presented to the people.

The rupee has crossed the Rs170 mark against the dollar, and gas prices were increased just now. There is no doubt that the PTI has failed to deliver on its promises, and it is now blaming the opposition parties for its unsatisfactory performances. The unemployment rate, as speculated by the IMF, will go up. The PTI’s privatisation plans continue to be ignored. The country’s loss-making organisations are adding more to the overall national losses whose burden is being borne by the poor. The government is in its fourth year, but it still hasn’t taken any meaningful direction so far. The finance minister pledged to control inflation. However, he, too, entered into an IMF programme, which resulted in price hikes. The much-touted change has, unfortunately, become a nightmare.

Shakir H Shamim