Pakistan and several other countries on Thursday condemned Israel’s “dastardly attack” on the Global Sumud Flotilla (GSF) after its forces intercepted the flotilla heading to break Israel’s siege of Gaza and deliver aid. Israeli forces began intercepting the flotilla’s latest bid to reach Gaza late last night, the fleet said. Israel has so far intercepted 39 boats with foreign activists on board to Gaza, leaving only one vessel still sailing towards the Palestinian enclave, the flotilla organisers said today. The 45-vessel flotilla, with activists and politicians including Greta Thunberg on board, left Spain last month to break Israel’s blockade of Gaza, where the United Nations has warned of famine. Former Pakistani senator Mushtaq Ahmad Khan was also on board. Hours after Tel Aviv’s move drew global condemnation, Israeli foreign ministry posted on X that all on board the flotilla were safe would be “deported to Europe”...
Pakistan's economy is facing a major challenge as inflation has hit a record high of 36.4% in the year to April. This sharp rise is being driven mainly by food prices, making it the highest rate of inflation in South Asia. The rate of inflation has risen from the previous month's figure of 35.4%.
According to the Pakistan Bureau of Statistics, rural areas have been hit the hardest with food inflation reaching a staggering 40.2%. The overall food inflation for both rural and urban areas has reached 48.1%, which is the highest since the bureau started recording these categories separately in FY16.
This rise in inflation is a major concern for the country's economy as it puts a strain on the purchasing power of the average Pakistani. High inflation rates can lead to a decrease in consumer spending, which can cause a slowdown in the economy. The country has already been struggling with economic instability, and this new development is likely to make things worse.
Experts believe that the main reason for the increase in food prices is the global rise in commodity prices. Pakistan relies heavily on food imports, and the sharp rise in international food prices has put pressure on the country's already weak economy. Furthermore, the ongoing COVID-19 pandemic has disrupted supply chains, which has contributed to the rise in prices.
The government has been taking measures to control inflation, including increasing interest rates and reducing subsidies on essential goods. However, these measures have not been enough to contain the rising inflation, and the government is likely to face criticism for its handling of the situation.
In conclusion, Pakistan's economy is facing a major challenge as inflation hits a record high of 36.4%. The rise in food prices has put a strain on the purchasing power of the average Pakistani, and the government's efforts to control inflation have been insufficient. The country needs to take more decisive action to address this issue and stabilize its economy.
Comments
Post a Comment