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Sep 15, 2009

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Increase in Poverty due to Price Inflation in Pakistan

Price Inflation in Pakistan has a major role in increasing the poverty. Un-official statistics shows that Pakistan is a country where the income of a person may be as low as 40 US Dollars per month and he has to support a COMPLETE FAMILY, which may comprise on his spouse, a large number of children, his siblings and his parents and even in some cases his grand parents too. According to government Pakistanis have 750$ per capita, so 62.5$ per person per month. And the price of 1 kg chicken is 3$. Who will tell us that how we can manage whole month with these 62.5$. And he has to pay a lot of taxes. In fact Pakistanis have to pay multiple taxes on each and every thing, even on the things which don’t exist.
The prices of majority commodities have gone up during the last one year, as never ending cycle of price escalation has pushed large number of items beyond the purchasing power of a common man. If we do a comprehensive analysis and comparison between prices of commodities from August 2008 to August 2009, it clearly emerges that the government has clearly failed to curb increase in price tendency by retailers and wholesalers, which has particularly gained momentum during the last one year. 
For the common man in the society it has become nearly impossible to support a family. It has become extremely hard to fulfill the needs of children regarding their food, health, education and entertainment. 

Price inflation in Petroleum products and in power sector has also affects the countries economy very badly.

Government has to take more concrete steps to overcome the rising cost of living that is being caused by soaring prices of essential commodities.


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