What life is like in Pakistan where diesel costs 262
As Pakistan stumbles from one crisis to another, people are coming out in the streets to defend a dual economic and political downfall with little guidance in the nation’s post-independence history.
The world’s fifth most populous country has come close to non-payment of debt, voicing the warning tales of economies of other developing countries including Sri Lanka and Venezuela. The inflation rate is at a 48-year high. Foreign currency reserves make up for less than a month of imports. last year’s devastating floods have inflated bills for billions which continues to swindle, bringing forth the impact of a warming planet.
Trying to take out some money from the International Monetary Fund was not fruitful this week and it will go on, giving no immediate respite. Although the money on the deal is not enough to recharge Pakistan drained the money bank.
The battle between Imran Khan, the ousted former leader, and Prime Minister Shehbaz Sharif’s government has divided the nation. The National elections supposed to be held in the second half of 2023 could turn chaotic. The current suicide bombing in the city of Peshawar which killed more than 100 people, indicates the hazard of Islamabad’s continued links to the Taliban, who have administered rigid control in neighboring Afghanistan.
To comprehend the crisis, here are some illustrations from the people of Pakistan from all over the country.
As per Muhammad Rashid, a restaurant owner, increased inflation has destroyed local businesses in the bustling port city of Karachi. He said that sales at his restaurant are down by 50% this winter.
Particularly middle-class customers are shooing away showing sharp inequality as the costs of staples such as bread and meat are surging.
At present, the customer base is mostly from the business class. As the rich are having no problem with the surging cost and they continue to come here and eat seafood.
Irfan Ali, gas station manager, said Diesel is another exposed nerve in Pakistan. The government raised the prices to over 262 rupees per liter by last month, forcing many to decrease commuting.
The streets are vacant at Total Parco Pakistan Ltd., a gas station in a busy part of Karachi.
Irfan Ali said that when petrol went for 200 rupees a liter, he used to sell 15,000 liters a day. But that number has come down to 13,000 as the fuel cost is almost 250 rupees a liter. The business competition is vicious he said.
We are not taking out our staff as we’re trying to manage from our margins. And inflation is surely going to increase unemployment in the country.
Many lower-class people are borrowing loans to afford basic needs and requirements.
As per Farzana, working as a maid in one of Karachi’s poshest neighborhoods, she has to borrow 5,000 rupees a month to keep up with a rise in the cost of living.
A recent gallbladder surgery cut into the family’s savings along with the doubling of her electricity and gas bills. Farzana’s 16-year-old son stopped going to school and took a job at a restaurant to meet monthly expenses. Despite life becoming so hard we can not do anything. She has to even sell her jewelry to manage the house expenses.
According to Mohammad Rashid, farmers have incurred heavy losses, in rural parts of the country due to high fuel and electricity costs cutting into their profits.
As per Rashid, labor costs have increased enormously over the last couple of years. He grows wheat, sugarcane, pulses, and cattle fodder on a small 20-acre farm in Punjab’s Khushab district. People do not have enough money to spend on food so how they will manage other needs like clothes, education, and electricity?
Floods in another part of Pakistan last summer killed more than 1,300 people generating more than $30 billion in damage.
The government has requested wealthier nations to give the bills. Though contributing just 1% to global emissions, Pakistan is classified as the world’s eighth most vulnerable country to climate change.
