Rising food prices

The common man is most affected by a rise in food prices and other basic necessities. Rising food prices has a devastating effect on poor households making it difficult for vulnerable segments of society to afford two square meals a day.

Taking into consideration the poor man’s plight, the prime minister has promised that the government will soon introduce a ration card scheme which will allow purchasing basic commodities worth Rs3000 at utility stores each month. This is a welcome step to ease the burden on the lowest segments of society.

The government has launched a Rs7 billion relief package under which essential items would be sold at cheaper rates at utility stores across the country. This will ensure that basic household commodities such as flour, oil, sugar, pulses and other essential items are sold at cheaper rates.

It is matter of deep concern when the central bank raises concern over the rising food inflation. The State Bank, which usually expresses optimism over macroeconomic indicators, has said that higher food inflation remains a major challenge to the country’s economy.

This is caused due to weak procurement practices, hoarding, and trade obstacles. It makes controlling food prices challenging and the situation will aggravate in 2020. In contrast, the Finance Division has stated that food inflation has declined and food prices are anticipated to come down.

The prime minister has said that edible oil has become expensive due to higher rates in the international market, and the government is focusing on increasing locally produced items. The greatest burden falls on the common man while industrialists and the middle men reap the benefits of price hikes.

Pakistan also imports pulses worth $1.5 billion every year. This is regrettable for a country where two-thirds of the population is linked to agriculture. There has been extensive damage due to climate change, urbanisation, conflicts, shortages, and depletion of natural resources. Yet, successive governments have failed to come up with a comprehensive agriculture policy.

The poor management will led to food insecurity as people will not have access to healthy and nutritious food. The prime minister has already raised alarm over rising malnutrition and stunted growth among children in Pakistan. It is imperative to address these challenges and give proper attention to the agriculture sector. The government should realise that only then can its development schemes be successful.