- By :Chandni Bozdar
- Mirpur Mathelo, IBA Sukkur
Inflation is the rise in the general prices of goods and services over a period of time, which reduces the purchasing power of money. It is rightly said that “Nothing empties pockets faster than inflation.” Pakistan is one of the countries severely affected by this problem. The inflation rate here has been rising continuously and is leaving a devastating impact on the lives of ordinary people.
According to studies, in the year 2000 Pakistan’s inflation rate was 4.37%, whereas by 2024 it had surged to around 12.63%. This steady rise has caused widespread hardship in society and created long-lasting crises.
- Poverty
When inflation rises, the value of money falls, which directly pushes people into poverty. In Pakistan, poverty has been one of the greatest challenges for decades. Many families cannot afford even the most basic necessities like food, clothing, and shelter. Sadly, some people, unable to cope with the financial burden, are even driven to commit suicide.
- Crime
With rising inflation, when people are unable to fulfill their needs, frustration and desperation often push them towards crime. Street crimes like mobile snatching, motorcycle theft, and robberies have become common in Pakistan’s cities. In some cases, these crimes even lead to murder. The lack of strong action against criminals further worsens the situation, leaving citizens insecure and helpless.
- Corruption
Inflation also fuels corruption. When prices rise and salaries remain stagnant, many people in positions of authority resort to bribery and misuse of power to make ends meet. This not only destroys trust in institutions but also deepens the gap between the ruling elite and ordinary citizens.
- Inequality
Another major consequence of inflation is growing inequality. The rich can adjust to rising prices, but the poor suffer the most. As a result, the gap between the wealthy and the underprivileged keeps widening, creating frustration, resentment, and social unrest in society.
- Conclusion
Inflation in Pakistan is not just an economic issue; it is a social crisis that breeds poverty, crime, corruption, and inequality. If left unchecked, it threatens the very stability of the nation. The government must take urgent measures to control inflation through better governance, economic reforms, and strict accountability. Only then can Pakistan move towards a future where prosperity is shared by all and not just a privileged few.