Tragic Results of inflation

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Abdul Raheem
It is prime time to determine how the processes linked with inflation, deteriorate the economic well-being of the country’s poor population. In such inflationary pressure, one is undecided about whether to manage the household’s expenses on a single source of income or invest one’s family time to make both ends meet for his siblings. The uncontrolled increase in the price level of various eatable items and household accessories seems to have adverse effects not only on consumers’ behavior towards purchasing necessary items and products for fashion but also on surviving strategies of middle and lower-class families across the country.
The price hike has multiple effects. Firstly, income effects, then expenditure effects and finally wealth effects, bearing in mind that the inflationary process generates all these effects simultaneously. It has also reduced people’s ability to attain quality education and has put masses in distress and in debts. Families with average members of eight to ten, are hardly able to sustain in such faltering economic condition. On the other hand, the contemporary government is obsessed with uplifting the country’s fallen economy in the fiscal year by burdening the public with heavy taxes and is proving handy in arresting eminent political figures, which has indirectly threatened overseas Pakistanis and foreigners to wholeheartedly invest in Pakistan.
However, not realizing the challenges and difficulties confronted on a day-to-day basis by lower as well as middle-class families, the bomb of inflation continually dropped on masses, could turn into a serious disaster. In such uncertain economic scenario, masses of a country can easily be tempted to evil doings, particularly youth, for a paltry amount of rupees. As a result, too many people for the sake of providing three times food to their children and satisfying their basic needs, join different outlawed militant organizations, which covertly operate to tarnish the image of the country. It is high time the government reviewed its revenue strategies, seriously considered the plight of masses and developed food and commodity aid centers throughout the country for better Pakistan.
DisclaimerViews expressed in this article are those of the author and Balochistan Voices not necessarily agrees with them.
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