One of the major causes of inflation in Pakistan is our flawed economic policies. For example, the government’s reliance on borrowing and printing money to finance its spending has led to an increase in the money supply, which in turn has contributed to inflation. Additionally, the failure to address structural issues such as corruption and lack of investment in key industries makes us an unattractive destination for investment. Hence, our forex reserves are heavily dependent on the IMF and a few rich countries.
In order to address the issue of inflation, it is important for the government to focus on structural reforms, as well as efforts to reduce corruption, red tape and focus on investment in hi-tech industries rather than roads and housing schemes. Furthermore, governments cannot just spend recklessly and turn a blind-eye to tax evasion so that they may preserve their vote banks.
Saman Mughal
Wah Cantt
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