Chained into Debt

Publication date

16th September 2015

Author

Islamic Relief Pakistan

Type

Keywords

Chained into Debt

Each Pakistani owes Rs. 101,338/- of public debt

The average common person of Pakistan has suffered from a crippling national debt for long. The devastating earthquake of 2005, the global financial crisis of 2008 and the horrific floods of 2010, and so‐called war on terror have increased the miseries of people. These internal events such as earthquake and floods have created a dearth of food items, while the external event made the oil prices very expensive. These internal and external events increased inflation a
great deal in Pakistan since 2008. The double‐ digit inflation since 2008 has impacted the purchasing power of the common man. This higher inflation normally impacted those people who receive fixed income such as pensioners, contractual workers, disabled, widowers etc., while other segments of npopulation remained
insulated since they may demand wages according to the rise in inflation.

Office

http://www.islamic-relief.org.pk/

Citation

Islamic Relief Pakistan [n.d]. Chained into Debt, Islamic Relief Pakistan, Islamabad [Online], http://www.islamic-relief.org.pk/

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