Pakistan’s economic crisis worsens as inflation rates reach 28%


The Pakistani government increased gasoline and diesel prices by Rs 35 per litre after the Pakistani rupee lost 12 percent of its value. Pakistan’s biggest economic catastrophe since becoming a nation has just begun. The predicted rate of inflation is 28%. The State Bank of Pakistan only has 4.4 billion dollars in foreign currency, which is insufficient to pay for imports for the next three weeks.

Pakistan was established in 1947 because Muslim officers and elites in the British Empire wanted it. It was envisioned as a place where Muslims could develop and live harmoniously. The Pakistani people have not experienced even one day of pride throughout the 60 years of Army rule. The country has gone from getting one kind of help to another, making friends and enemies while giving its people false hopes of stability and progress.


In a video that has been widely shared, Pakistan’s finance minister, Ishaq Dar, says that “Allah is responsible for its progress and prosperity” and that Pakistan is the only country founded in Islam. Being from a “rogue state,” Pakistanis must endure embarrassment. However, given systemic corruption and the Army’s excellent job of replacing colonial control, they can’t accomplish anything. Sometimes, when a new ruler comes in, the old one gets the blame. And as a result, people’s issues keep getting worse.

The price of gasoline and diesel had to be increased by Rs 35 per litre by the government last week as a result of the Pakistani rupee’s 12 percent loss in value. Since 1947, this has been the start of the worst economic disaster it has seen. The inflation rate is predicted to reach 28%. The $4.4 billion in foreign exchange reserves held by the State Bank of Pakistan are insufficient to cover imports for three weeks.

When flood victims needed help, the nation’s medical facilities were in poor condition. Since December 2022, the prices of medicines and medical supplies have gone up by a significant 16 percent. Local pharmacies are closing, and the ones still open have to deal with the high cost of raw materials. Moreover, some even offer opportunistic pricing on currently available medications.

People are dying due to the decreasing food availability. There are 60 million individuals who cannot simply find a bit of bread. 9.4 million acres of farmland were ruined by floods. The regions severely affected are Sindh and Balochistan. Several videos online show individuals standing in line all day to buy wheat to feed their families. The government is too busy with the provincial assembly elections to help these people deal with the situation.

Businesses are closing down because there aren’t enough energy sources and raw materials. Thousands of containers are stranded at the ports because there is not enough foreign money to pay for them. As if these issues weren’t enough, the government is hindering journalists and the media’s ability to portray the true face of the Pakistani government in Sindh and Balochistan.

In January, 19 children died, and 50 others were very ill when industries in Karachi’s Moach Goth neighbourhood released deadly gas. The police buried the kids without doing an autopsy to hide the fact that they didn’t know what happened and didn’t care about the public. According to DHO Kemari, the nearby companies that extract oil, grease, and iron ore caused the children’s lungs to deteriorate. Pakistan is so eager to throw dirt on problems that it is only a matter of time before people overthrow the government. The people may be quiet, but that doesn’t mean they obey the government. Before a storm, there is always an ominous silence.




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