Gilgit-Baltistan Faces Deepening Economic Crisis Amid Surging Inflation

Residents of Pakistan-occupied Gilgit Baltistan are suffering from a severe economic downturn marked by soaring inflation, fuel hikes, and growing unemployment. Social activist Hassan Askari draws attention to insufficient government intervention and lack of development, further marginalizing the region and inciting widespread frustration among the local population.

Residents in Pakistan-occupied Gilgit Baltistan are facing an acute economic crisis, grappling with unprecedented inflation, rising unemployment, and stagnated development. According to social activist Hassan Askari, inflation in the region has spiraled up by 400-500% in the last two years, leaving locals in despair over economic exploitation without substantial relief.

A chief contributor to this inflation is the regular fuel price hikes, leading to increased transportation costs and, consequently, higher prices for basic necessities like food and medicine. Askari reveals that while fuel prices occasionally drop by a small margin, they are swiftly hiked by several rupees, perpetuating economic hardship and showcasing the federal government's lack of a coherent strategy for improvement.

The situation is especially dire in Gilgit-Baltistan compared to the rest of Pakistan, with fuel price surges having a disproportionately negative impact. As inflation escalates, unemployment exacerbates the crisis. With limited government and contractor jobs, the absence of a vibrant private sector is forcing many young people to leave in search of better opportunities.

Highlighting the disproportionate tax burden amid negligible development, Askari argues that the region's resources are exploited without substantial reinvestment, cementing the sense of neglect. Persistent issues like power outages, poor educational infrastructures, and high unemployment spotlight the region's long-standing challenges post its disputed occupation by Pakistan, deepening the frustration among residents.

(With inputs from agencies.)