The price of one dozen eggs in Lahore has been reportedly available at 400 Pakistani rupees whereas widely used onion is being sold at Rs 250 per kg. Thank God, India sticks at Rs 200 for one crate. As regards the significant onion, this veg ingredient is also not selling at that much higher rate. Though consumers begin to groan about green peas going up to Rs 50.
This is clear enough to point out that the hydra-headed monster of unbearable inflation is, without a doubt skyrocketing in Pakistan before the general elections to be carried out in the forthcoming month of February 8.
According to ARY News, this went on because the administration was failing to execute government prices as it had fixed the price of onion at 175 Pakistani rupees per kg, but it is being sold in the market at a price of about 100 rupees more.
Chicken is also available at Rs 615 per kg. It is comparatively half in India. The Economic Coordination Committee of Pakistan has instructed the National Price Monitoring Committee there to help the local administration in controlling the prices of everyday items.
Inflation in India sped up to a four-month high in December, largely due to volatile food prices reportedly. Stripping out food and fuel costs, the core measure slid below 4% for the first time in almost four years, raising expectations of rate cuts.
The RBI targets headline inflation, which has come within the mark of our target range of 2% to 6%, the governor suavely said adding that our target is 4%, and we are steadily proceeding towards that dot.
Economic growth will possibly touch 7% in the next fiscal year while inflation will average around 4.5%, Governor Shaktikanta Das said, dwelling upon his recent days’ comments. That would place the country’s economy on track to post growth of around 7% or more for four consecutive years, he expressed. He said rate cuts in India will be counted on domestic factors, and reiterated that the Reserve Bank’s policy is to be actively disinflationary.