Pakistan Inflation April 2023: Pakistan’s inflation has reached a record 36.4% in April, the highest level in the region. This rapidly rising inflation is putting the people of Pakistan under tremendous pressure.
The rising inflation rate is affecting the economic condition of Pakistan. Along with this, the rate of electricity, petrol, gas etc. is also increasing. The quality of life of the people is greatly affected by the growing economy with such inflation rate. The Government of Pakistan has not yet announced any new action, but the government has some more time to find a solution to this problem.
Numerous factors, including the sharp rise in food and fuel prices as well as the depreciation of the Pakistani rupee, have been blamed for the inflation. Despite implementing a number of measures to reduce inflation, the government has also come under fire for failing to contain the rate of price increases.
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Pakistan is still awaiting the disbursement of IMF funds that were in principle approved last year but have not yet been paid out, which is aggravating the issue. The nation has been negotiating a $6 billion rescue package with the IMF, but negotiations have stopped because of disagreements on economic reforms and policies.
The delay in IMF financing, according to experts, might make Pakistan’s economic issues, such as inflation, worse and could affect the nation’s capacity to pay its debts. Well as we all know that Pakistan is in deep trouble because of it’s army and past and current government. This nation needs to rethink about everything and needs a hard reboot.