With @ImranKhanPTI talking about taking action against inflation, here’s some context about what he has said in the past about inflation. In 2014, he said electricity can be 50% cheaper if corruption is eliminated. Q: after almost two years in power, why haven’t prices come down?
In 2017 he said that prices were spiraling upwards simply because the govt. was protecting the corruption mafias. Q: is his govt also protecting corruption mafias in sugar and wheat sectors, given that food prices have skyrocketed?
In 2013 he said that @pmln_org had betrayed its mandate by increasing prices and devaluing the currency. Q: has Khan sb. also betrayed his mandate given inflation has reached 14+%?
My point here is to highlight the rhetoric that has been deployed by the PM in the past. His tweets betray a lack of understanding of basic econ issues. The fact that he’s surrounded by “experts” who dare not educate the dear leader on what ails the economy is of utmost concern.
The reality is that come what may, these “initiatives” he’s talking about below will not tame inflation. The diagnosis is way off the mark and if they pursue measures to control prices, they may unleash animal spirits that will create black markets for essential food items.
