Islamabad. The situation in neighboring Pakistan is very bad. Inflation in Pakistan reached 35.37% in his March. The highest inflation rate in 50 years. Consumer prices rose 35.37% he compared to a year ago. People are forced to sleep hungry. Every day we see a rush for cheap food in some city. In the last 10 days, 20 people have rushed in for food.
Pakistan has run out of foreign currency. In such a situation, the government here needs a loan from the International Monetary Fund (IMF). The conditions for that are very strict. Inflation rises as these conditions are met. CPI inflation reached his 50-year high of 35.37% in March. Experts say there will be more. The central bank has raised the benchmark interest rate by 300 bps to 20% to combat rising inflation.
Data show that transport prices rose 54.94% in March and food inflation rose 47.15% in March. Clothing and shoes prices rose 21.93%, while housing, water and electricity prices rose 17.49%.
The stampede occurred while distributing free rations as alms in Pakistan. 12 people have now died. The incident is linked to a factory near the Nawras intersection in the Karachi site area. A free ration was held here on a Friday evening, and a large crowd had gathered. During every Ramzan, people here hand out food. Police said three children and eight women were among the dead. Sindh Chief Minister Murad Ali Shah announced compensation of 50,000 rupees to the next of kin of those killed in the stampede and 10,000 rupees to the injured.
The Pakistani newspaper Dawn reported that commodity prices in the country have risen in recent months. Annual inflation is 20% higher than he was in June last year. The Treasury Department said in its monthly economic update and outlook released on Friday that inflation could rise further in the coming days. The reason behind this is due to rising energy and fuel prices and central bank policies.
According to Pakistani television news channel Duniya, lemon prices reached 800 rupees per kg in Pakistani rupees during Ramzan. Retail price is 200 rupees per 250 grams. Speaking of garlic, it sells for 640 rupees per kg. The retail price of tomato and bitter gourd is Rs 120 per kg, while the price of uriuli is Rs 140 per kg. The price of Kachnar, which was sold at Rs 350 before Ramzan, reached Rs 600. During Iftar in the month of Ramadan, Muslims eat fruits. However, fruit prices continue to rise. Watermelon, which was sold at Rs 70 per kilo before Ramzan, now sells for over Rs 250.
Before Ramzan, the price of a banana in Pakistan was Rs 100 per dozen. However, according to many reports, it sells for Rs 250-500 in some areas. Strawberries that cost 50 rupees for 250 grams now sell for 150 rupees. Food prices continue to rise in Pakistan. According to local media reports in Pakistan, many people have boycotted the purchase of the expensive fruit.
In addition to the food crisis, Pakistan is also witnessing a water crisis. Water scarcity is a major concern for Pakistan as it witnessed massive floods some time ago. Indus River System officials said the shortage of water would force them to follow a “controversial” three-step water management mechanism to supply the state with water, according to the IRSA technology. The committee he held a meeting on March 24th.
