Covid-19 has very quickly affected the Pakistani economy due to this it affects on the consumers which we can easily face this inflation.It also affects on import and export which causes on Pakistan’s economy.
Rising prices of essentials such as wheat, milk, meat, clothing, medical services, coffee, electricity, etc or, alternatively, the decline in the value of money so that it takes more money to buy the same goods and services. Inflation affects different sectors of economy, sharing of income and wealth, production, government, the balance of payments, economic policy, social sector, political environment and different classes of the people.
High inflation rates are regarded as harmful to the economy. They add inefficiencies in the market, and make it difficult for companies to budget or plan long-term. Inflation can act as a pull on productivity as companies are forced to shift resources away from products and services in order to focus on profit and losses from currency inflation. Uncertainty about the future purchasing power of money discourages investment and saving.
The concerned authority should have to take serious action on the rapid increase in inflation.So the poor people can easily afford their basic needs.
Syeda Ashiqa Alam,
Karachi
