Inflation in Pakistan – why economists are failed to come up with a remedy

Inflation in Pakistan has become a persisting phenomenon, and the government agencies, particularly the State Bank of Pakistan, despite opting for a strict monetary policy for long, has not been able to curb it. Is it so that the State Bank is not the competent
body to do the job? And if the answer is in affirmation, who else will have to fix the problem? Some of the possible options have been provided with hereunder.

All economists in Pakistan will agree over the fact that at least in the land of the pure, the reasons for the sustaining inflation are not completely economic; rather, more of them are related to mal governance, corruption and inability and lack of will
of the present incumbent.

In no other country of the world, hoarding is promoted and financed by the publically elected representatives, in no other countries, prices of petroleum products, electricity and other energy items are increased every seven days, and in no other countries,
a national level bill named NRO exists which allow politicians to get away with whatever plundering they have done to the nation’s wealth.

The irony is that not even the so called opposition is not trying to limit the government in its wrong doings but the people too have turned up to be oblivious of the havoc that is being caused to the country. Smuggling is rife and the blackmailing political
parties are in money for selling and reselling them for covering the corruption of the ruling alliance.

The state own enterprises, including PIA, Railways, Steel mills and others are on the verge of collapse, and instead of putting right persons, selected on merit base, in the saddle to reverse the damage, more and more money is being thrown away in the name
of bailout package.

The situation is that the country has reached on to a critical point where the decision has once again come to the hands of the dwellers of Pakistan. It is now their turn to decide whether they wish to continue with the present lot or their likes or will
they go about introducing change in the country.

Short URL: https://www.newspakistan.pk/?p=2055

Posted by Fayyaz Yaseen on Oct 29 2011. Filed under Pakistan, Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry