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India, Pakistan inflation

Nadeem Moulvi

The writer is a business analyst.

Pakistan and India are suffering from massive inflation these days. The governments of both countries are blaming global high prices and supply chains for the crisis. The bitter reality is that inflation and surging prices are only affecting the poor and the elites are getting rich every single day.

To make matters clear, I would like to cite a few Indian companies whose revenue increased a whopping 150 to 306 percent during the pandemic year. These companies have shielded themselves from the current wave of inflation while the workers of these companies continue to remain worst affected.  

If we look at the revenue growth of some Indian companies in 2021, Gujarat Fluorochemicals showed 306% growth, KPR Mills 289%, Angel One 253%, Indian Energy Exchange (IEX) 243%, Tata Iron 159%, and Liberty Phosphate witnessed growth up to 150%. There is a long list of companies like Tata, Birla and Reliance but the Indian government blames the world for higher prices. This is because the politicians have close ties with billionaire businessmen and investors who eventually prop up those in power and prey on the masses.

In these countries, the rich are getting richer and the poor are getting poorer. All laws and policies are made to make the elite richer. Yet, the countrymen are being told that prices are being increased under compulsion as they are rising across the world. It must be pondered that if inflation is affecting the entire world then why it has does not stalled the growth of these industries earning up to 300% profit. Despite being termed a democracy, we don’t have a democratic government which represents the people and work for their interests.

The government only works for the sake of their own vested interests and safeguards the wealth of the elites.

It is through these politicians that the rich manage to recover their investment from the indebted masses. It is only in such countries that economic advisers either own factories or run their businesses. They work as financial advisers or central bank governors and live a life of luxury, receiving hefty salaries and privileges at public expense. As long as the representatives don’t solve the problems of the people, we will continue to witness rising inflation and other economic woes. It is unfortunate that the elites have blackmailed the government and hiked prices.

Even religious groups are ensnared in this quagmire and are forced to protect their interests. Gone are the days when maulana, pandit and priests use to live a simple life. Today we have ‘branded’ religious leaders living with all the luxuries life can offer. Religious leaders enjoy modern vehicles, luxurious bungalows, well-armed guards and all the comforts of family life and still tell the poor to show patience and express restrain.

Until the corporate sectors of Pakistan, India, Bangladesh, Europe and the US needs to work for human rights and poverty alleviation, politicians around the world will rule countries that will make the rich richer and the poor will be given hollow slogans and high hopes.

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