There is no government agency to monitor these companies which makes the situation more critical. As an effective means to eradicate poverty, all the previous governments tried to attract foreign investment. Instead of eradicating poverty, the economic condition has gone from bad to worse. Business Recorder reports:
According to a report foreign investment is a major source of ongoing price hike as a large number of multinational companies, especially the mobile companies, are responsible for extra burden on poverty-hit people.
The daily advertisements by these multinational companies through electronic as well as print media have made imperative for every citizen to buy expensive mobile sets, which caused a major dissatisfaction among the masses.
In such circumstances, the chances of development of a country are impossible. As every coming government tries its level best to increase foreign investment thinking that investment would help eliminate poverty but instead of that the country plunged into turmoil and such extra burden brought more difficulties and miseries for the masses.
I agree that attracting foreign investments will not eradicate poverty but I do not believe that the issue of price hike is only related to the multinational companies. There are many dishonest businessmen who want to make profit by creating artificial shortage which would drive the price of the products upwards. Pakistan government should give more effort in controlling the price or else it might lead to another political turmoil.
Related articles:
Business Recorder
Price hike has become one of the big problems in Pakistan. People of low born is suffering a lot for this high price. Because of some dishonest businessmen, who are creating artificial crises, whole palistani people are getting under food crisis. And the responsiblity has fallen into multinational company.
Posted by: kamrul hasan | May 13, 2008 7:03 AM | Permalink to Comment