Prime Minister Shehbaz Sharif announced the distribution of 100,000 free laptops among talented students across the country on merit, during an International Youth Day event in Islamabad on Tuesday. Premier stated that the distribution of these laptops will cover all four provinces, the federal capital Islamabad, Gilgit-Baltistan, and Azad Kashmir, and will be based purely on merit, without any nepotism. He added that these laptops would be separate from the scheme for laptops through interest-based loans. Referring to Operation Bunyanum Marsoos, the prime minister mentioned that Pakistan’s victory on May 10 against a numerically larger and more boastful enemy had instilled a new vigour in the entire nation. He urged the youth to build on the spirit of this achievement and work hard to bring honour to the country. Earlier, during the ceremony, Chairman of the Prime Minister’s Youth Program, Rana Mashhood, said the government’s merit-based programs for youth had enabled talented and des...
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.
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