Politics in the driving seat

The worsening economic crisis has triggered human and political crises, eroded social cohesion and posed a risk to our national security. The outlook for the future at the moment appears to be bleak. In October, inflation — mainly driven by food, transport and energy prices — measured by the Consumer Price Index rose by 26.56 per cent year-on-year against last month’s 23.56pc and 9.2pc in the same month last year. An analyst says the inflation reading was more than double the increase in wages of around 13pc. And after assuming power, the PML-N is losing its political capital in Punjab at an unprecedented speed. Owing to the country’s political and economic situation, business confidence is stated to have dropped to one of its lowest levels. According to the latest Gallop poll survey, inflation remains the ‘most- cited’ problem of the business community.