Summary The masses expressed extreme resentment at the latest devaluation
(Web Desk) – The historic devaluation of the Pak currency against the Dollar has left the citizens with already shrinking pockets flabbergasted. US dollar hit another all-time high, now trading at Rs 150 after gaining Rs3 in the open market and at Rs149 after gaining Rs2.48 in the interbank market.
Pakistan Tehreek Insaaf (PTI), at the helms of the affairs since August 2018, after 9 months of deliberation arrived at a deal with International Monetary Fund (IMF).
The aftershocks of which were felt by the masses across Pakistan, with the economy already in crisis and inflation skyrocketing, people are finding it hard to get by and that too in the midst of Ramadan.
According to government of Pakistan’s bureau of statistics, inflation rate, April, 2019 over April, 2018 (Corresponding month) is 8.82. Pakistan Bureau of Statistics collects the retail prices and computes the Consumer Price Index (CPI) for a basket of 487 items collected from 40 cities and 76 markets.
Already a high was witnessed prior to this depreciation of Pak Rupee in the prices of Carrot (54.08%), Kinnu (49.90%), Cabbage (23.17%), Lemon (18.75%), Chicken (9.90%),Garlic (9.29%), Sugar Refined (6.76%), Petrol (6.46%), High Speed Diesel (5.38%), Onion (4.87%), Pulse Moong (2.67%), CNG (1.68%) etc.
The masses expressed extreme resentment at the latest devaluation, for it meant further increase in food and petrol prices which is already out of the common man’s reach.
Annoyed at the government’s lack of price control, discontented and displeased, people demand some measures from the incumbent government, which was elected in hopes of change, change for the better, but things are spiraling out of control, raising serious doubts and questions in the minds of the masses.
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