Inflation has well and truly breached our walls. The beginning of the month marked an increase of 32.57 per cent on a year-on-year basis in weekly inflation due to a massive surge in prices of both food and non-food items, especially vegetables like onions and items like cooking oil, according to the Pakistan Bureau of Statistics.
The reasons behind this are plenty and have been discussed, screamed, analysed, and shared Ad Nauseam. Pakistan is at one of its most dire moments in its economic history. Reserves are dangerously low, imports are closing down with energy and fuel both on the brink, and the country is on the cusp of default. And with all this going on, for the first time, it seems that Pakistan is truly alone on the world stage. Friendly countries are not extending a helping hand and the International Monetary Fund (IMF) is throwing everything and the kitchen sink at Pakistan’s negotiators in terms of conditions.
All of this we know. But how do the effects of this manifest on the ground? It happens with the little things. Parents pulling their children out of school because they can no longer afford to pay the fees. Families selling their cars and buying motorbikes instead to get around. Labourers eat one meal a day instead of two. Companies are laying off employees that have been with them for decades because they cannot meet payroll. Working professionals with white collar jobs looking for side hustles like becoming Careem drivers or delivery riders.
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