This is apropos a Business Recorder editorial "A wake-up call for the government" carried by the newspaper yesterday. I totally agree with the newspaper's following conclusion: "The ruling party's misplaced statements of bravado will not help it weather the gathering storm of public discontent. The people's pent up anger could easily explode providing a fillip to the opposition's protest movement. PM Khan needs to get his bevy of experts find a way to provide them relief from soaring prices".
Having said that, what I wish to highlight is a point about government's lack of focus on price stability and inflation, which essentially fall under the domain of State Bank of Pakistan. The central bank, in my view, must take all the required steps towards money supply growth and highly reduced key discount rate with a view to controlling price hike and containing rising inflation, particularly food inflation. The central bank must make it clear to the government that there is no room for complacency.
ABDUL AHAD (ISLAMABAD)
Copyright Business Recorder, 2020
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