PM Imran and rising inflation

The Prime Minister of Pakistan has once again asserted that all-out measures will be taken to decrease the inflationary pressure plaguing the people of Pakistan. Chairing a high-level meeting in Islamabad yesterday, PM Imran said that if the government can’t provide relief and basic commodities to the masses, it had no right to stay in power. The premier was of the opinion that inflation is the result of corruption and plundering by the previous government. He directed the concerned authorities to bring down the prices of basic food commodities after the unpleasant criticism by the masses.

Pakistan is no stranger to inflation. However, since the PTI government came into power, Pakistan has entered a new period of acute inflation; the inflation rate has been increasing gradually for the last one and a half years. In 2019, Pakistan’s inflation rate was recorded at 12.63 percent, the highest in twelve years and in January 2020 the inflation rate miserably stood at 14.6 percent.  

In PM Imran’s ongoing tenure, prices of every single item including gold, essential commodities, electricity, gas, petroleum products, have all been increased. The cost of education, clothing, and health has also increased. The incumbent government rather than taking effective measure to decrease inflation, are busy blaming previous leaders and giving endless advice to be patient.

It seems like the PTI government will be unable to tackle inflation despite its optimistic narrative. In November last year, Adviser on Finance Hafeez Shaikh announced that inflation will decrease in January. However, no such change was witnessed. PTI leader Asad Umar also gave a message of decreasing inflation. However, this too, dissipated in thin air.

The Prime Minister is continuously referring to the invisible mafias but refuses to take action against them, whereas the opposition is blaming PM Imran’s confidantes Jahangir Tareen and Khusro Bakhtiar for the increasing inflation. Meanwhile, the poor remain hungry and can no longer afford two meals a day. Unless immediate actions are taken against the responsible culprits, inflation will continue to climb and cause the PM’s downfall.