MONETARY POLICY

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MONETARY POLICY: The State Bank of Pakistan recently announced a 100-basis point hike in the policy rate to 21 per cent to combat the rising inflation. However, the decision is likely to have a negative impact on economic activities, such as spending, investment and growth. It is worth noting that cost-push inflation is not effectively addressed by monetary policy. Sri Lanka’s recent experience amply highlights this fact. Therefore, raising interest rates will not cool down the crippling inflation; it will exacerbate it. The government should explore other strategies, such as supply-side policies, to address cost-push inflation.

Abdul Nasir
Bahawalpur

HIGHER EDUCATION: Comprising six districts, the Naseerabad division in Balochistan is one of the largest divisions in the province, and is yet deprived of institutions of higher learning. This lack of academic institutions is playing with the future of thousands of young souls who want to have a future for themselves, their families and the country, but can hardly do anything as they fail to equip themselves with professional education. Naseerabad and its residents deserve at least one decent university so that the students may not have to abandon their higher education.

Ahmed Ali Korar
Naseerabad

CURRICULUM OVERHAUL: For quite some time, I have been browsing through the curriculum that is being taught at private schools in Karachi. From my experience, it is safe to conclude that the curriculum lacks diversity and is not aimed at instilling creative learning skills in the students. Many crucial subjects are not part of curricula, such as technology and entrepreneurship. The whole thing needs a complete overhaul.

Bisma Hanif
Karachi

INEQUALITY: Financial disparity in society is growing, and having a negative impact on society. More than poverty, it is disparity that is the root cause of violence and mental health issues. Financial and social inequality needs to be addressed.

Ayub Hanif
Karachi

Published in Dawn, July 6th, 2023

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