Wages must be in direct proportion to inflation!
Rising inflation particularly for a developing country must be in proportion with the wage because a common man can't buy commodities with inflated prices with little wage. It is important to bring a mass out of poverty and stabilize the gross root economy. This causes abrupt tension and frustration among the general public, however, economists say, to curb inflation wages and expenses must bring them in line together and these two are in inverse proportion to each other. For the single breadwinner, it becomes a little implacable to feed a whole family with pricey food and with little wage.
Pakistan ranks 92nd out of the 116 countries with a score of 24.7, which indicates a serious level of hunger, according to the 2021 Global Hunger Index. The Global Hunger Index (GHI) is a tool designed to comprehensively measure and track hunger at the global, regional, and national levels. Although it's a fair number but also a striking threat in decades to come. Pakistan’s inflation rate has remained on the higher side in almost four years periods from 2018 to October 2021 compared to other regional countries, including India, Bangladesh, and Sri Lanka. In the final months of 2021, the rate of inflation stood at 9.2 percent in Pakistan while it was floating around 5.3 percent in India, 5.6 percent in Bangladesh, and 7.6 percent in Sri Lanka.
In December of 2021, it was 12.3% that rose to 13% by January.
Economic Indicators show growth in GDP from an initial 2.3% set in the 2020 annual budget then later to 3.9%. It has increased to 5.57 percent from the prior measure of 3.94 percent.
Despite all economic triumphs, we struggle with hunger and scarcity of resources. The lower class in Pakistan is fighting its battle for subsistence loaf. Economic development would prevail if there would be political stability in the country that is in direct proportion to one another.
Minimum wages in Islamabad and Punjab rose 14.4% in January 2022 as compared to the same month last year, a survey carried out by an international e-commerce company has indicated. But that's not true for all other cities of Pakistan. Price surge and inflation has more or the equivalent impact on all the provinces but when it comes to the wage increase it is quite disappointing. Wages increase in Gilgit Baltistan is highly negligible. For the past couple of years, labor exerts for less than 700 hundred rupees a day that is very little to sustain the pace in suffocating economies. Thus, wages must be in line with inflation. If inflation increases so that the wage, this is how financially impoverished families could resist inflation.🙅🙅