GONE are the days when the earnings of a single individual member were sufficient for the whole family. Though now all members are running after their livelihood, they could hardly make both ends meet. The skyrocketing prices and inflation have forced almost every member of society to play a role in the financial consolidation of their households to meet the basic needs of day-to-day expenses of their families. But it is getting difficult with each passing day to rationalize the monthly family budget – you never know the irrational jumping of utility bills and fluctuation in market rates. The basic needs of life are rapidly turning into somewhat luxuries – from vehicles to rent-a-house and home-construction to school fees, and gas and electricity bills to health charges. The spike in prices of almost all basic amenities of life has brought down the purchasing power of the masses.
The already disturbed triple P’s of ‘purchasing power parity’ due to economic crunch has made the public live from hand-to-mouth as a major portion of the income is consumed on the food basket. The highest percentage of earnings (70 to 80 percent) is spent on food items and that too not on quality foods but substandard edibles. The distressing factors emerge when it comes to spending on other basic accessories of life – health, dressing, rent, transportation, and education. The ever-increasing rates of basic amenities of life and rising inflation have disturbed the standards of living and the quality of daily food intake. The children are being faced with malnutrition while the grown-ups are unable to get a balanced diet with all nutrients.
The avenues of earning have shrunk while the cost of living has multiplied. It has become a challenge for the common people to make outdoor shopping, visit natural landscapes, or make arrangements for marriages. The dwindling state machinery and successive governments have done nothing for the common people except increasing reliance on foreign debts. The tense economic situation also affects the relations within the family – failing to come up to the expectations of individual dependent members in getting them facilitated in their genuine needs. The rituals and family get-togethers and entertainment activities are becoming faraway dreams for average Pakistani families.
Over the years, people have only seen the rising value of the dollar and falling standard of the rupee. Leaders only repeat the cliché that the country is passing through a crucial stage. It seems that the country is standing at this critical juncture – stuck at the threshold with no way of getting out of it. The holy month of Ramadan has brought further spikes in the rates of daily use of edibles – the masses are becoming unable even to afford the rates of veggies and fruits, let alone the rates of chickens and meat that are far beyond the reach of the average Pakistani family. The salaried class could hardly meet their monthly expenses as their fixed amount is barely enough for 15-20 days. For the remaining expenditure, they either have to borrow or get engaged somewhere else to meet the day-to-day needs.
The public in Pakistan faces numerous challenges, including fluctuating rates and instability in the market, exacerbated by rising petrol prices affecting commodity costs. Short-term policies prevail, lacking long-term vision to address the crises effectively. It’s crucial for leaders to empathize with the economic struggles of the people and prioritize collective efforts, good governance, and visionary leadership to break the cycle of hardship. Pakistan must prioritize agricultural growth, industrial expansion, resource exploration, and knowledge-based and service economies over dependence on foreign loans.
—The author is a journalist based in Islamabad.
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