Contradictory to PM's perspective: Pak faces highest inflation in region
Contradictory to PM's perspective: Pak faces highest inflation in region
ISLAMABAD (Web Desk) – In contradiction to Prime Minister (PM) Imran Khan’s perspective Pakistan faces highest inflation in the region.
According to the statistics, the current inflation rate of Pakistan remains at 10.74 per cent which is highest in the region. During the past 3 years, per capita income of every Pakistani decreased by 13.51 per cent meanwhile the poverty increased in the country.
Moreover, PM Imran also claimed that the petrol prices in Pakistan are lowest than the whole region. According to the details, petrol is being sold at Rs137.79 per liter in Pakistan, Rs245.17 in India, Rs175.80 in Bangladesh, Rs154.14 in Sri Lanka, and Rs214.88 in China.
Considering the importance of decreased per capita income factor, there are several other factors leading to the increased petrol prices in region which could not be ignored.
In 2018 the per capita income of Pakistanis was $1480 whereas in 2020 it remained $1280. Similarly during last 3 years it decreased to 13.51 per cent. In India, it was $1997 in 2018 whereas in 2020 it remained $1900 and decreased to 5 per cent in past 3 years.
In 2018, the per capita income of Bangladesh was $1750, whereas in 2020 it became $2010 and in past 3 years it increased to 15 per cent. In Sri Lanka it was $4040 in 2018, it remained $3720 in 2020 and decreased to 8 per cent in last three years. In 2018, it remained $9600 in China whereas in 2020 it was $10,610 with an increase of 11 per cent. Meanwhile during last three years it increased to 10.74 per cent.
It is pertinent to mention here that the inflation rate in Pakistan remains at 10.74 per cent and the percentage is the highest in whole region. In India it remains at 6.62 per cent whereas in Bangladesh it is 5.69 per cent, 6.15 per cent in Sri Lanka and in China it is 2.4 per cent.
In Pakistan, the per capita income of people lowered down by 13.51 per cent. The inflation rate of the country remains highest in the region; meanwhile, the poverty culminated and decreased people’s buying capacities.
