Pakistan Crisis: Pakistan on the verge of plight, prices of essential goods out of reach of common man

Pakistan is facing its worst economic crisis. Even after the change of power in Pakistan, inflation is not taking the name of decreasing. Rising inflation has loosened the pockets of the citizens of Pakistan. A local media report said that 45 days since the Shahbaz Sharif government came to power in Pakistan, daily necessities are getting expensive and out of reach of the common man due to the recent hike in petrol prices and electricity rates. are out.

The government needs to take seriously the fact that the weak economy is affecting the daily lives of the people or else the adage 'a hungry man becomes an angry man' will be applicable across the country. According to media reports, in terms of continuous price and tariff hike is affecting the daily life of the people.

Contrary to the expectations of the new government, Pakistan's economy continues to decline due to the unstable political system.

An increase in prices of essential commodities will have to be controlled

The federal and provincial governments should control the rise in prices of essential commodities in addition to raising public transport fares. Local media underlined that it would be better for the Shahbaz government to take cognizance of the condition of the common man before it is too late, the report said, adding that Pakistan is currently facing huge economic turmoil and a drop in petroleum prices. is increasing. What Pakistan needs to focus on is to quickly salvage the International Monetary Fund (IMF) deal and leverage the support of multilateral financial institutions and friendly nations to stabilize the economy.

The minimum wage should be given to the workers

Apart from this, the officials should also see that the minimum wages announced by PM Shahbaz are given to the laborers. But, the minimum wages announced by PM Shahbaz are not given to the laborers. It has been said in the report that even though the officials of the Shahbaz government are making tall claims that it will provide flour, sugar, oil, and other essential items at subsidized prices, the poor sections should get all these things at subsidized prices. should ensure.

According to the CFR Index website, Pakistan's current account accounts for -4.5 percent of GDP, its external debt accounts for 42 percent of GDP, its short-term debt and current account accounts for 107 percent of revenue, and its government debt accounts for 68 percent of GDP. percent, its political instability index is -1.9, and its credit default swap spread is 824 basis points.

The CFR index gives India a score of 1 and Bangladesh 3. In other words, sovereign risk means that the government will default on its obligations or impose foreign exchange regulations that hurt the value of foreign exchange contracts.

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