Daily Times

Not too long ago, the food inflation rate crossing 30 per cent was decried as the last nail in the proverbial coffin. Today, the Pakistan Bureau of Statistics has noted a record high of 48.1 per cent as we’ve clinched the worst-performing crown out of Sri Lanka’s hands. The Consumer Price Index is the highest since 1965 when Pakistan was fighting an existential war and there are no signs of the days becoming less gloomier anytime soon. Just as excruciating is the rupee outlook that is making merry on its way to rock bottom.

As economists around the world continue to appeal to Pakistan to put an order in its house and pay heed to its below-the-curve performance, theatrics and more theatrics retain their ironclad grasp on the priorities list. That over four million citizens are said to have fallen below the poverty line does not make the cut nor do the second round of price hikes as a result of withdrawn subsidies on fuel. Although the government has not yet succeeded in getting the bailout funds, it seems clueless as ever at transport prices climbing 56.8 per cent and housing, water and electricity costs gaining 16.9 per cent right under its nose. What this means for an average person walking on the street is a shift from two cars to one and one to public transport. The salaried class is being forced to choose between the food on their table, and the clothes on their back as the roof on their heads turns into a Damoclean sword. Forced to take up extra shifts or look for second jobs, they battle employment uncertainty every single day because rising production costs mean a seemingly neverending string of industrial and business shutdowns. Whether Prime Minister Shehbaz Sharif manages to retain an upper hand in the political impasse makes no impression whatsoever on those fighting for their lives. They have tired of anticipating some relief from those who had climbed onto the coveted seat in their name. Perhaps, the realisation that no sweetener is headed their way manages to twist the dagger deeper. *