Pakistan's inflation rate rose to 13.76 percent in May, the highest in two-and-a-half years. Inflation this year has been higher than it has been in several years, reports the Daily Times. Let us tell you that the previous Pakistani government Tehreek-e-Insaf (PTI) led by Imran Khan had some very impressive plans. Like health cards, in which the government had to spend huge amounts of cash. Due to this, there was unnecessary pressure on the currency reserves at a very crucial time. This led to increased borrowing pressure and which pushed the prices upwards.
According to the Daily Times, Shaukat Tarin's first budget as Finance Minister of the Pakistani Tehreek-e-Insaf Party (PTI), suddenly went beyond the methods prescribed by the IMF. This budget also created false expectations and closed the trades of investors, which had to be withdrawn due to the mini-budget. The decision to freeze petrol prices in February, for purely political reasons, widened the current account deficit and also stalled the bailout program.
The new Shahbaz Sharif government also did not stop the pace of uncontrollable inflation
The Shahbaz Sharif government, led by the New Pakistan Muslim League-Nawaz (PML-N), also did not help matters with its paralysis. This delayed the decision to raise prices to prevent political backlash, which further escalated inflation. The primary contributor to the rise in inflation is the rise in international commodity prices and the depreciation of the Pakistani rupee further pushing up the inflation rate.
Know what is inflation?
Due to the decrease in the price of money over time, the price of a commodity has to be paid more, then this condition is called inflation. Explain that due to inflation, the prices of goods and services increase, which affects the fixed income group. Thus the fixed income group suffers losses due to inflation.
Taiwan: Preparing to deal with China's challenge, America sold dangerous weapons to Taiwan's military
The US has approved the sale of arms worth $619 million to Taiwan. Under this, Taiwan will now be able to get F-16 Fleet missiles. The US move comes at a time when the Chinese Air Force recently
Earthquake in Delhi: Delhi-NCR was shaken by strong tremors of an earthquake early in the morning, people came out of their homes in panic.
Earthquake in Delhi NCR Strong tremors of earthquake were felt in Delhi-NCR. People had not even woken up early in the morning when beds and windows started shaking loudly. Everyone was frightened by
iPhone 15: From better camera quality to new charging port, three big changes will change the way you use iPhone
Apple has introduced the iPhone 15 Series with three major changes. This time, three major changes have been made in the new iPhone like more powerful chipset, a universal charging port, and better
Chinese spy ship Yuan Wang-5 reaches Sri Lanka: will be at Hambantota Port from 16 to 22 August; Indian Navy's eye on the movement of the ship
Chinese spy ship Yuan Wang-5 reached Hambantota Port in Sri Lanka on Tuesday morning. This spy ship will be here from 16 to 22 August. It can easily monitor up to 750 km away. Yuan Wang is capable of
COVID in India: 44 more people succumbed to corona, and more than 20 thousand new infected were found
The number of new corona patients in the country is fluctuating daily. On Saturday, 20,408 new corona infected have been found. 44 more people succumbed to the epidemic. The daily infection rate stood
IND vs ENG: Will Jaiswal get a chance in the semi-finals? India has a chance to take revenge on England, know the playing 11
The T20 World Cup 2024, being co-hosted by West Indies and USA, is now moving towards its peak. The Super-8 matches are over and now the semi-final matches will be played on 27 June. The first match
US-China Relations: the US working on a new strategy to beat China, which will accelerate arms sales
The dispute between China and America has increased a lot in the last few years. In such a situation, both the countries are also giving competition with each other in every field. Meanwhile, a report
Meta Layoffs: Layoffs again in Meta from today! Know which employees the social media company is preparing to throw out
The retrenchment of employees of Meta in India can start from today i.e. Wednesday. At least two employees of the social media giant in India have indicated this. Reports from several international
Vande Bharat Metro: After Vande Bharat Express, the Vande Metro train will now run across the country, Railway Minister announced
Union Finance Minister Nirmala Sitharaman presented the Union Budget 2023 on 1 February. Rs 2.40 lakh crore has been allotted for the Railways in the budget. Railway Minister Ashwini Vaishnav also
Corona again knocked in China: Lockdown imposed in resort city, more than 80 thousand tourists stranded; Flights coming from abroad canceled
Corona has once again knocked in China. More than 80 thousand tourists are stuck in the resort city of China. Which is known as the Hawaii of China. 483 Covid cases were reported in Sanya city on
