With the economic crisis at its peak, the price of chicken has increased significantly in the city of Karachi, the Sindh capital, since the beginning of the year. The govt has not made any official statement on the price hike. But the cost of living has risen so drastically that millions of people have been rendered poor.

The cost of living crisis is tipping millions of people into poverty.

A cost of living crisis threatens to swell the ranks of the world’s poorest. According to the (UNDP), more than 1.7 billion people face extreme poverty. This figure doubled three months ago when Russia invaded Ukraine.

The rate of everything from food to energy is increasing dramatically. This puts pressure on millions of families—one in six renters worries about paying their rent in the coming months.

In addition, an estimated eight million people are skipping meals or electricity. In some countries, households are even going without heating. These are just a few consequences of the international cost of living crisis.

In addition to its devastating effects on families, the rising prices are also a cause for concern in wealthy nations like the U.S., which has seen inflation rise to over 6%.

A new report by the UNDP warns of the need for more global development assistance to fight the cost of living crisis. It also recommends targeted cash transfers and debt relief as the most effective means to help the vulnerable.

Floods have affected the livestock and poultry sectors.

Pakistan is facing a food security crisis as floods have devastated the country’s livestock and poultry sector. The historic monsoon in July, combined with glacier melt, has dumped the average rainfall in Pakistan three times. In the resulting floods, hundreds of thousands of animals have been lost.

The repercussions of the deluge include loss of life and destruction of homes, roads, bridges, and agricultural land. Farmers have suffered significant losses of crops, including paddy, onion, cauliflower, and sugarcane.

Livestock and poultry make up a significant component of Pakistan’s economy. About half of the agricultural GDP is generated by livestock. This means that disasters are likely to aggravate pre-existing crises and threaten the livelihoods of millions of farmers, pastoralists, and herders.

The livestock and poultry sector is a vital source of sustenance for millions of people in rural areas of Pakistan. However, it also suffers from multiple stress factors that increase its vulnerability to various threats.

Pakistan is on the brink of economic collapse.

Pakistan’s economy is on the brink of economic collapse. The country’s exchange rate has depreciated 30% over the last three years, leading to a massive increase in imports. It has also seen an influx of millions of Afghan refugees. Consequently, the foreign debt to GDP ratio has increased to more than 60 percent.

Pakistan’s currency depreciation, inflation, and high fiscal deficit have pushed the nation into a crisis. The IMF’s assessment of the country’s debt increased from $24.7 billion in February to $30 billion in September. Inflation reached 27.3% in August.

Pakistan’s primary policy interest rate is below the level of inflation. In addition, the government has implemented several measures to address the growing trade imbalance. These include restricting imports of non-essential items and compressing demand for imports.

One solution would be to reform the real estate sector, which is a source of much of the country’s capital. But the opposition to the proposed measures has been strong. This is because the real estate sector diverts money away from export-oriented sectors.

The Sindh government asks why the administration is silent on the price hike.

The recent rise in food prices in Karachi is creating a severe headache for the government of Sindh. The state-run Price and Control Department has issued a letter to the city commissioner, urging him to take necessary steps to control the increase in the prices of essential commodities. It has been said that the wholesalers and shopkeepers are violating the price list and that the government should take legal action against them.

To address the issue, the state has taken a series of steps. First, it suspended flight operations. On 13 March, it closed all domestic and international flights except for Lahore and Islamabad.

Second, it decided to extend a loan of $1 billion to the province from the federal government. However, the loan was criticized for being too much, especially since COVID-19 cases have hit the province. Moreover, the provincial government did not honor Imran Khan’s words to contain inflation.

More Detail: 

1. http://gazette.blogs.rice.edu/2022/05/04/why-live-in-a-master-planned-community/
2. https://sites.tufts.edu/articles/article-54/
3. http://gazette.blogs.rice.edu/2022/10/19/the-importance-of-data-protection/
4. http://wp.nyu.edu/mind/2022/11/17/how-to-make-money-from-your-mobile-app/
5. https://blogs.cuit.columbia.edu/pk2682/2022/12/13/favorite-hobbies-of-younger-retirees/
6. https://www.zomailer.com/fake-nduja-recipe/
7. https://www.zomailer.com/frankie-gaw-on-his-new-cookbook-first-generation/