Skyrocketing Prices and Soaring Debt: Lahore Grapples with Economic Crisis

The price of eggs in Lahore, Pakistan has reached an alarming high of 400 Pakistani Rupees (PKR) per dozen, with inflation affecting the prices of various commodities as well. Onions are being sold for up to 250 PKR per kg, while chicken is being sold at an exorbitant 615 PKR per kg. This surge in prices has prompted the Economic Coordination Committee to direct the National Price Monitoring Committee to coordinate with provincial governments to ensure price stability and tackle hoarding and profiteering.

At the same time, Pakistan is grappling with a debt burden of 63,399 trillion PKR, with over 12.430 trillion PKR added during the tenure of the Pakistan Democratic Movement and the caretaker government. A recent report by the World Bank has highlighted the limited economic development in Pakistan, primarily benefitting the elite and leaving the country lagging behind its peers.

Pakistan's economic model has been deemed ineffective, with a growing sentiment towards changing policies to address the resurgence of poverty and the unsustainability of economic development. While efforts are being made to stabilize prices and address economic disparities, there is a pressing need for sustainable solutions to ensure the wellbeing of the population and address the economic crisis in the country.