Inflation hits the highest rate in Paksitan

Uninhibited inflation can potentially disrupt the law-and-order situation in Pakistan. While, there is no denying the fact that the prices of Brent crude oil have risen to unprecedented levels in the international market, however, as this rise was expected due to growing global conflicts and the volatile dispute between the USA and Russia on the Ukraine issue, most countries had already put in place measures to shield the impact of the rising crude oil prices on their economies. The Government of Pakistan, too, ought to have made alternative arrangements to ensure that the rise in global crude oil prices did not impact the purchasing power of the common people. The continuous rise in the price of petroleum products in Pakistan has had a devastating effect on the prices of daily-use items, which has crushed the poor. Moreover, it also has had a deleterious impact on the economic activity in the country. The government of Pakistan must ensure through good governance that such policies are devised which guarantee that the fluctuating prices of crude oil in the international market have minimal impact on the masses. The government should develop tax regimes to collect the bulk of taxes from the rich and reduce its expenditures so that the masses could be rescued from their economic sufferings.

Leave a Reply

Your email address will not be published. Required fields are marked *