Inflation is a big problem for the people of Pakistan, not Kashmir: Survey - Daily Current fairs

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Friday, 1 November 2019

Inflation is a big problem for the people of Pakistan, not Kashmir: Survey

Inflation is a big problem for the people of Pakistan, not Kashmir Survey

According to a survey, the problems of rising inflation for the people of Pakistan have more importance than the Kashmir issue. This result has been revealed in a survey conducted by Gallup International in all the four provinces of Pakistan facing cash-crunch.
The study, published Tuesday by Gallup and Gilani Pakistan, states that 53 percent of Pakistanis believe that the country's economy, particularly inflation, is the biggest problem facing the country. The survey said that inflation worries are followed by unemployment (23 percent), Kashmir issue (8 percent), corruption (4 percent) and water crisis (4 percent).

The survey also cited the possibility of political instability, power crisis, dengue outbreak among other issues. Gallup Pakistan said the survey included men and women from Balochistan, Khyber Pakhtunkhwa, Punjab and Sindh provinces. Pakistan's economy is struggling in the last few years.

In July, the International Monetary Fund (IMF) said that Pakistan is facing 'significant economic challenges' due to weak and imbalanced development and that its economy is at a critical juncture, where it is in dire need of reforms. At that time, Pakistan had a currency reserve of fewer than eight billion rupees, enough to cover only 1.7 months of imports.

Pakistan and the IMF signed a bailout package of six billion rupees this year, which aims to return sustainable development to the country's fragile economy and improve living standards. Apart from the IMF, Pakistan has secured substantial bailout packages from Qatar, China, Saudi Arabia, and the United Arab Emirates.

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