ISLAMABAD (NNI): Prime Minister Imran Khan said on Sunday the incumbent government’s efforts to reduce inflation are now showing results.
Taking to his official Twitter handle, the Prime Minister said: “More good news on the economic front. Our efforts to reduce inflation are now showing results. Consumer price index and core inflation are both now lower than when our government was formed.”
Imran Khan said he had instructed his economic team to stay vigilant and ensure that inflation stayed under control.
“I have told my economic team to stay vigilant and ensure that inflation stays under control.”
Earlier today, Federal Minister for Planning and Development Asad Umar tweeted that inflation is on the decline due to “success” of Prime Minister Imran Khan’s economic policy.
“January inflation (CPI) is down to 5.7%. Core inflation is at 5.4%,” he wrote on his official Twitter handle. Consumer Price Index (CPI) inflation was 5.8 per cent and core inflation 7.6pc before the PTI assumed power in 2018, he added.
In July 2018, prior to the PTI government’s formation, CPI was 5.8% and core inflation was 7.6%.
“The rate of inflation is lower today then when the PTI govt was formed,” Asad Umar said, using “PM IM Economic Policies Success” hashtag.
Contrary to the government’s claims, the Pakistan Bureau of Statistics (PBS) had said that inflation is still moving upwards. The Sensitive Price Indicator registered an increase of 0.52 percent over last week, mainly due to raise in rates of food items. Prices of 18, out of 51, essential items increased and rate of nine items decreased, the PBS said.
The prices of chicken, cooking oil, ghee, mustard oil and washing soap surged while prices of potatoes, onions, LPG, sugar pulses and bananas went down, the bureau said.
A couple of days ago, former finance minister Dr Hafiz Pasha warned that the inflation rate will reach 10 percent in six months if the surge in oil and electricity prices in the international market continue going up. He foresaw the next six months worst ever for the common persons of the country.
Like other parts, the country has severely been affected by the coronavirus spread. Experts have been struggling for balancing between life and livelihood. Micro, small, and medium-sized enterprises (MSMEs) are being dubbed as the major victims and continued increase in prices of oil and electricity are adding fuel to fire in case.
