Pakistan has been hit with severe inflation in recent times. In August, inflation increased to 27%, which is the highest since 1975. Recently, the Prime minister of Pakistan has also admitted that inflation is at its peak. In this time of killing inflation, some of the top companies in Pakistan stepped up and supported their employees through inflation allowance.
Of these companies, the major ones are Habib Bank, Alfalah Bank, and Pakistan Mobile Communication Limited(Jazz). In the media industry, Bol Network came forward and supported its employees.
Habib bank announced an inflation allowance for its 15000 employees in two tranches, while Bank Alfalah has announced an ad-hoc inflation allowance for its employees for six months, starting from 1st July 2022.
Jazz(Mobilink) announced a one-time inflation allowance of PKR 50,000 for all its employees who have a salary of less than 200k.
To conclude, it is the need of time that all the profitable businesses come forward and support their employees in this difficult time, as they are profitable because of their employees.