KARACHI: Acting President of Korangi Association of Trade and Industry (KATI) Maheen Salman has expressed reservations over the sharp rise in inflation in the country. She said that the inflation rate for the working class has crossed 21 percent, which is a matter of great concern.
According to data released by the Bureau of Statistics, inflation was recorded at 19 percent last week.
Maheen Salman said that the rate of inflation in Pakistan is higher than in other countries in the region. Globally, inflation is 4 to 5 percent, while in Pakistan it is over 19 percent.
Acting President KATI said that in such a situation, the lives of low-income citizens have become unbearable. There are millions of workers in Korangi who are not able to meet their expenses despite working day and night which is causing frustration.
She appealed to the government to take concrete steps to reduce the rate of inflation on an emergency basis.
A reduction in petrol, electricity, and gas prices is inevitable. Industrialization should be promoted in the country to create employment opportunities as well as increase exports.
Maheen Salman further said that prosperity is not possible in the country without diminishing inflation.
She appealed to the government to increase the benefits for the poor given the current situation. The Ehsas Programme and the Kamyab Youth Programme should be further expanded. Free facilities should be provided to the youth of middle-class families for education and vocational training.
Copyright Business Recorder, 2022
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