Nowadays, we hear about inflation in Pakistan. Every news channel talk about its impact on layman. Different talk shows discuss about prices and validate it with the support of facts and figures. Manipulation of such news to gain the political advantage further enhances the severity of issue. Every individual is the consumer of household products and direct victim of any change. Therefore, it is gaining more attention. People are considering it as alarming news because they are hearing it right before Ramzan Sharif. During Ramzan, people already bear high rates of regular consumer goods i.e. fruits, vegetables etc. This time people are thinking that increase in prices will be much higher as they are getting such news earlier than Ramzan.

There is another thought provoking aspect. More focus of media on such news is appreciating people towards the hoarding of consumer items. It can create the artificial shortage of goods. The tendency of hoarding to be saved from inflation will make economic condition more critical.

Other side of Economic Conditions:

Here is the requirement to put the light on some other positive aspects. Few points are mentioned below:

  • According to “The annual Economic and Social Survey of Asia and Pacific 2019”, prices are tending to move high to 4.2% in 2019. After that it would move down to 3.8% in 2020 in the whole region.
  • The World Bank reports shared that economic growth of country will decline to 3.4% in 2019 and 2.7% in 2020. It is the consequences of tight monetary and fiscal policies for the financial year. Same report further explains that growth will be resumed to 4% in 2021. At this time, country will be in the position of getting fruits of strict policies such as betterment in overall macroeconomic conditions of country.
  • Financial year 2019 is a tough year for the trade as well. It would broaden the deficit. This situation will be improved in 2020 and 2021. It is anticipated that the volume of import will be reduced due to the currency depreciation etc.
  • This report also projects an economic transition in country if it will remain successful in managing the investment and tax.
End Note:

Media needs to cover such aspects as well. It needs to bring these survey results in front of viewers. So that they can understand the economic conditions and make decision prudently.

 

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