Islamabad: Government measures have contributed significantly to Pakistan's economic woes. Government actions, or the lack thereof, as well as monetary decisions, have all contributed to the current economic catastrophe. True, market actors take advantage of the situation, but according to reports, it is ultimately the government's obligation to keep them in check.
According to reports, Pakistan's mini-budget would include budgetary adjustments and expenditure cutbacks, but not enough to provide relief to the country's inhabitants. Shaukat Tarin, the PM's Finance and Revenue Adviser, has also acknowledged that the market is unpredictable due to inflation and currency depreciation.
Furthermore, while the Pakistani government's declaration of a 32 percent increase in income tax is believed to be a positive sign for the country, it comes with little reciprocal assistance. According to reports, people who were expecting a reduction in inflation and an improvement in livelihood opportunities will be disappointed, and while growth in the construction industry may be encouraging for real-estate tycoons, this real-estate 'boom' is no bonanza for ordinary people who are struggling to pay rent for a couple of rooms.