Finance Minister Miftah Ismail on Friday said that he was ashamed over highest inflation during his tenure. The inflation has now broken a 47-year-old record after Pakistan Bureau of Statistics (PBS) data highlighted inflation at 27.3 percent on year-on-year basis in August 2022. Miftah Ismail, however, defended his policies.
Prime Minister Imran Khan has decided to introduce another Rs. 15 billion relief package to counter the uncontrolled inflation in the country. It was decided during a meeting that Rs. 15 billion will be used to provide an uninterrupted supply of household commodities to utility stores across the country. Along with that, the district and city administrations will be mobilized to keep a check on the prices of grocery items to curb price manipulation.
Prime Minister Imran Khan has said that his government will announce on Tuesday measures to reduce the prices of basic food items. The premier said in a series of tweets that he understands the difficulties people have to go through due to inflation in the country. He also mentioned that the government is investigating the rise in sugar and flour prices.
PTI leader and former finance minister Asad Umar has said that according to his assessment inflation rates would peak in next two to four months. While speaking on a local news channel, Umar said that after few months, slowly inflation rate would start going down, which would be reflected in monetary policy and hence, interest rates would also go down.