QUETTA: Currency devaluation added to inflation in the country and lowered the purchasing power of the people, said Fehmida Kausar Jamali, Vice President of Pakistan Tehreek-e-Insaf (PTI) for Insaf Women Federation.
Inflation in the country can not be controlled until and unless Pakistani Rupee is strengthened, Jamali said in a statement issued here on Tuesday.
Fehmida Jamali said the weakening currency impacted the consumers’ purchasing power as devaluation fuelled inflation. “With devaluation, there is inflation, when there is inflation, your disposable income goes down, which affects consumption behaviour and spending power. There is a decline in aggregate demand, which is why there is an economic slowdown,” she said.
Fehmida Jamali said that the government was making all out efforts to overcome the ongoing inflation as the aim of the government measures was to provide relief to the poor and the salaried class and to ensure provision of essential commodities to the people at reduced rates.
The nation should rest assured that all those responsible will be held accountable in the light of Imran Khan’s vision, she added
The VP of PTI for Insaf Women Federation said that survival of the common man had become difficult under present circumstances due to poor policies of PML-N government, but Prime Minister Imran Khan’s government was committed to change the destiny of the nation.
However, she suggested that all provincial governments should also place an independent price monitoring mechanism. The prices and supplies of daily-use commodities may be verified through sources other than government officials. All deputy commissions should prepare a weekly report on any violation of official price list for essentials. This report may be reviewed by chief ministers, she added.
Such measures, Fehmida Jamali said might strengthen social accountability and help elected leadership to better respond to the hardships faced by citizens during times of low economic growth and inflation.
She also urged the Competition Commission of Pakistan to increase their efficiency so that common man may get relief from corporate sector prices.
With input from INP
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