The floodwaters in Pakistan have claimed more than just lives; they have swept away crops, livelihoods, and, as it turns out, much of the nation’s ability to keep prices steady. As the country grapples with the devastation of floods that have torn through fields, the retail cost of essential goods is skyrocketing. The Sensitive Price Index (SPI), which tracks inflation in the short term, has shown a 5.03% rise in prices year-on-year by the week ending September 11. While some of that increase can be attributed to typical inflationary pressures, the devastation caused by the floods has pushed prices even higher, with perishable goods like vegetables and meat taking the brunt of the impact.
In Islamabad, the price of tomatoes has surged to Rs280 per kilogram. The nation’s staple crops like onions, potatoes, and rice have similarly seen unprecedented price increases. These spikes are not simply the result of seasonal trends or market fluctuations; they are the consequence of devastating natural disasters that have ravaged key agricultural regions. The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
