2023-04-21 08:00:29
Islamabad: The people of Pakistan are in crisis due to the severe price hike. A kg of rice costs Rs 335 and mutton costs Rs 1,400 to Rs 1,800. The common people are unable to celebrate the minor festival that marks the end of the month-long Ramadan fast due to price hikes. Prices of daily essentials like flour, oil and gas skyrocketed.
A kilo of onion costs 180 Pakistani rupees. The price increase in Pakistan is 47 percent. As the festival approached, the prices of many items increased again. The media also reports that the festival market is dead due to price hike. People do not come to market for Eid shopping. The government’s recent hike in fuel prices also backfired. Provincial governments have announced plans to distribute foodgrain kits to the low-income earners during Ramzan.
Distribution has resulted in a stampede in parts of Khyber-Pakhtunkhwa. One person was killed in Charsadda. Several people were injured in Swabi and Kohat. One person died in Bannu. Five women were injured in a stampede at a free distribution center in south Punjab’s Hazilpur tehsil.
The World Bank had reported that the economic crisis pushed nearly four million Pakistanis into poverty this fiscal year. The World Bank asked Pakistan to take new foreign loans to avoid public debt. Pakistan’s growth in the next financial year will be only 2 percent. With an average inflation rate of 29.5 percent this fiscal year, Pakistan’s economic future is looking uncertain. Inflation is expected to be 18.5 percent next year.
Last Updated Apr 21, 2023, 1:34 PM IST
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