Pakistan is dealing with its highest inflation rate in almost 50 years, according to Dawn. The rate of inflation in South Asia has reached its highest point in recent months, with a spike to 38 percent. In instance, the price of food has soared to 48%, the highest level since 2016.
The government’s decision to eliminate subsidies and weaken the currency by more than 50% in less than a year as part of the most recent installment of the International Monetary Fund bailout package has made the country’s cost of living situation worse.
In a nation where financial obstacles often cast a shadow over the lives of its people, the idea of fair salaries appears to be a ray of hope. Like many developing countries, Pakistan must overcome the difficult task of addressing the socioeconomic inequalities, poverty, and inequality brought on by the previously mentioned inflation.
The question of how much labourers are paid for it is at the heart of these difficulties. Discussions about the significance of living wages and fair wages, and the reasons Pakistan should give priority to this important aspect of economic justice, should be held by private sector organisations.
Beyond simply being a number on a cheque, a fair wage represents the worth and dignity of human labour. It guarantees that people have access to basic essentials for themselves and their family, including food, housing, healthcare, and education. In Pakistan, where a large segment of the population faces financial hardship, equitable pay can make a huge difference.
Giving fair salaries is required by law in addition to being morally right. The Pakistani Constitution protects the right to equitable compensation for equivalent effort. Many people still struggle to obtain this entitlement, nevertheless, particularly those who work in the unorganised sector or as daily wage workers. Ensuring the enforcement and preservation of this fundamental right in all economic sectors is a crucial responsibility for both the government and enterprises.