Inflation Chronicles: How the Media Turned ‘Rising Prices’ into ‘Vanishing Act’
Inflation is a significant economic concern for any nation, as it directly affects the purchasing power and living standards of its citizens. Pakistan, like many other countries, has been grappling with the issue of inflation for quite some time. However, as inflation continues to rise, media outlets appear to have discovered a novel solution: an ostrich-inspired approach, burying their heads in the sand and leaving viewers to wonder if the economic crisis is just a mirage.
In the last month, World Bank has expressed serious concerns about Pakistan’s economic situation and has recommended immediate actions to address it. The World Bank reported that poverty in Pakistan has increased dramatically, reaching 39.4% in the last fiscal year. This means that 12.5 million more people have fallen into poverty due to the country’s poor economic conditions, resulting in a total of 95 million Pakistanis now living in poverty. The details of the report can be found here: 95m Pakistanis live in poverty: World Ban
Dawn News Report - Sept 23, 2023: Pakistan’s economy on edge of precipice, warns World Bank
Yet, as the former Chairman of FBR, Shabbar Zaidi, aptly criticizes the media for its lack of coverage on chilling revelation from the World Bank, there has been a noticeable absence of discussion or media outcry regarding the Pakistan’s economic crisis.
It seems that the era when the media could actively scrutinize the government for its economic policies and the increasing inflation has passed into history. Just a short while back, media organizations could publish headlines like “Pakistan witnessed the world’s highest inflation in 2020: SBP” without thorough fact-checking. If we could just turn back the clock a few years, media outlets used to boldly publish headlines like “Is there any government in the country? Chicken, beef, and mutton prices are soaring; and vegetables and fruits are becoming increasingly expensive” and “Despite the government’s assertions, vegetable prices remain high nationwide.”
Express New Report - Nov 13, 2022: Looting from citizens; Vegetables started being sold at arbitrary prices
Well, it looks like we’ve bid farewell to the good old days when the media could throw a dramatic fit about inflation going wild, essential items turning into luxury goods, and fuel prices taking off like a rocket.
Dawn News Report - Feb 17, 2022: Petrol price hike: The effects of the new wave of inflation are starting to show
Geo News Report - Feb 21, 2022: Inflation continued to rain on the people for 3 and a half years of PTI government
Those were the times when the media cared about public opinions regarding inflation so much that they’d shout from the rooftops about how inflation was the main concern for a whopping 84% of the country’s population.
Geo News Report - Feb 1, 2022: 84 percent of Pakistanis declared inflation as the biggest problem of the country
Remember when the media used to lament at the woes of everyday folks, whether it was a balloon-huckster or the latest celebrity meltdown?
Geo News Headline - Feb 16, 2022: Ertugrul was shown so that the people could travel on horses
It looks like we’ve also hit the end of the road for those leftist bloggers who used to entertain us with their endless rants about why the state couldn’t handle the economy without tripping over its own shoelaces. Farewell to the era when our media gurus could connect the dots between inflation and the crime spike. It seems we’ve waved goodbye to the era when our nation’s journalists could brazenly talk about grabbing the prime minister from his collar over lacklustre performance, and it seems we’ve moved passed the days when our trusty news hounds would fire off instant price hike updates via Twitter faster than you can say “breaking news.” Oh, and let’s not forget the days when our intrepid journalists would venture into bustling bazaars to keep tabs on the cost of essential groceries and take the people’s pulse while they were at it. Yep, guess those days are about as extinct as last week’s leftovers in the fridge.
And it appears that the media can no longer engage in the sport of teasing the government about inflation and fuel costs either. Those spicy roasts and epic takedowns are now just a thing of nostalgia. Farewell, fearless media, and hello, sanitized news!
Geo News Headline Feb 17, 2022: Video: Did citizens start traveling on horses when petrol became expensive?
Now, in 2023, a year where the media has seemingly embarked on an extended tropical getaway, leaving life’s gritty conundrums in the rear-view mirror. It’s as if they’ve collectively shouted “timeout!” when it comes to tackling the most urgent issues of our era. Engaging in discourse about matters like inflation running wild, price hikes that feel like daylight robbery, the economy executing an impromptu limbo dance, and everyday folks lining up to join the never-ending unemployment procession has become out-dated. It’s as if the media is now focusing solely on the brighter and more cheerful facets of life while relegating the gloomy and mundane to the shadows.
Today, the media seems to embrace optimism about the economy by suggesting that the country could potentially attract billions in investments and tends to present a rosy view of the current situation.
Geo News Report - Sept 16, 2023: After the crackdown on hoarders, the prices of sugar in Rawalpindi started coming down
Geo News Report - August 29, 2023: In this era of inflation, organizing a free medical camp in Islamabad
Sama News Report - July 4, 2023: There will be a clear reduction in the rate of inflation in two years, Governor State Bank
It’s hard not to notice that even the recent nationwide uproar over inflation barely earned a blip on the media’s radar just a month ago. Or perhaps it did, and we were caught up wrestling with the finicky internet suspensions. If that’s the case, well, apologies.
NetBlocks Report - May 9, 2023: Internet disrupted in Pakistan amid arrest of former PM Imran Khan
In today’s media landscape, it looks like the name of the game is all about serving up practical solutions. The media is tossing advice around like confetti at an exuberant New Year’s Eve celebration. They’ve taken to the soapbox, passionately urging the public to roll up their sleeves, seize the bull by the horns, and shoulder some responsibility for corralling the unruly beast known as inflation. It’s as if they’ve morphed into purveyors of do-it-yourself kits for navigating the treacherous terrain of the economic jungle.
Sama News Report - Sept 16, 2023: To avoid this inflation, we have to change our lifestyle, economist Khaqan Najeeb
And in the rare case where solutions are as elusive as a unicorn, the media isn’t one to dance around the issue. They’re the first to proclaim, “Listen up, folks, we hate to break it to you, but these are the wild, wacky times we find ourselves in. So fasten your seat-belts and savor the chaos!”
Express News Report - Aug 18, 2023: The Federal Bureau of Statistics has released a weekly report on inflation
The media’s duty is to provide citizens with accurate and comprehensive information, particularly on issues of national importance like inflation. Failing to do so not only deprives citizens of their right to know but also hampers their ability to hold their government accountable for economic policies that directly affect their lives. To prevent a future where critical issues are sidelined, it is essential that media organizations prioritize their role in informing the public and fostering transparency in governance.
So let’s cut to the chase — ignoring inflation is akin to pretending your basement is desert-dry when it’s secretly becoming an underwater theme park. It’s high time our media fetched its snorkelling gear and started broadcasting about this critical matter.
We aren’t asking for the moon, just a smidgen of economic chitchat, a dash of accountability. So, dear media, it’s time to emerge from your hiding place, dust off that trusty inflation newsreel, and get back in the saddle. Ignoring inflation is like turning a blind eye to that peculiar noise your car makes — it might seem insignificant at first, but if you ignore it for too long, it could lead to a full-blown fiasco. Let’s not turn Pakistan’s economy into a circus of financial surprises. It’s time to roll up those journalistic sleeves and give inflation the limelight it rightly deserves!
Article by: Umer Azad
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