Islamabad:It is a bitter reality that the previous year 2022 was a horrible dream and people faced record inflation followed by a famine-like situation. The district administrations and other government agencies completely flopped to control profiteers and hoarders for earning over 100 per cent profit.
The country continues to reel through political and economic instability and inflation is consistently on the rise with the Sensitive Price Index (SPI) showing an increase of over 3 per cent in every week. The weekly inflation in last week of December 2022 recorded a slight decrease of 0.09 per cent while the annual rate remained at 29.30 per cent. According to the Pakistan Bureau of Statistics (PBS) report, the prices of 23 essential items, including firewood, eggs, raw milk, and flour increased, while that of several items such as vegetable ghee and cooking oil decreased in the last week of December 2022.
The statistic shows that the annual inflation rate was 31.35 per cent for those earning between Rs29,518 and Rs44,175 per month, and 29.61 per cent for those earning more than Rs44,176 per month. In 2022, recorded inflation had broken the back of a common man because prices of all items increased more than 100 per cent. It was difficult to run the kitchen in 2022 because prices of onion increased by over 400 per cent from Rs50 to Rs240 per kilogram, price of ginger increased by 100 from Rs200 to Rs400 per kilogram, garlic by over 200 per cent from Rs150 to Rs400 per kilogram.
The Deputy Commissioners of Rawalpindi and Islamabad had increased the prices of mutton by Rs550 from Rs850 to Rs1400 and beef by 250 from Rs450 to Rs700 in 2022. But local administrations badly failed to implement their own notifications because butchers are selling one-kilogram mutton at Rs1800 and beef at Rs900. Chicken prices increased by over 100 per cent in 2022. Chicken meat was easily available at Rs180 but in 2022 the chicken meat prices crossed the figure of Rs500 per kilogram.
The price of the most important eatable item like ‘atta’ increased by over 100 per cent in 2022 and now a 20-kilogram bag is selling at Rs2200 to Rs2600 against Rs900 to Rs1200. In 2022, prices of all items like washing power, shoe polish, pampers, dry milk, bread, toffees, biscuits, red chili, salt, soaps, dry fruit increased by over 100 per cent.
The rate of a one-kilogram tea pack increased by over 100 per cent from Rs780 to Rs1450 in 2022. The government Utility Store Corporation (USC) also badly failed to control this situation as they flopped to provide subsidized items like ghee and ‘atta’ to consumers in 2022.
Shattering old records, the year-on-year increase went up to 42.31 per cent. The previous highest-ever yearly increase was recorded in the week ending on October 5 at 38.63 per cent. The construction material, electricity material, and labour of masons had also increased by over 100 per cent in 2022.
The prices of garments, shoes, school uniforms, books and notebooks even pens and pencils increased by over 100 per cent in 2022. Reacting to the sky-rocketing inflation, people belonging to all walks of life taking to ‘The News’ slammed the “ever-increasing” prices, saying it led the country to the highest-ever level of inflation in the country’s history. But, nobody cares about criticism.
Unfortunately, the prices of ghee and cooking oil crossed the figure of 500 per kilogram in 2022. Now, one-kilogram ghee is selling at Rs520 and cooking oil at Rs530. The transport fares had increased by over 100 per cent with the increase of POL prices by over 60 per cent in 2022.
Source link: https://www.thenews.com.pk/print/1026221-administrations-of-twin-cities-fail-to-control-inflation