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Economy.pk

Pak Govt will use its Resources to Curtail Inflation

byDua Imran
October 10, 2020
in Business, Economy, Finance, Main, New, Pakistan Politics, Politics
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With the rise in inflation in Pakistan, Government has decided that it will use its own resources to take the prices of food essentials down. This considerable step is taken by the PM Imran’s government after the inflation in the country elevated to 1.24 percent.

The Prime Minister of Pakistan stated that his government is considering the reasons that gave rise to inflation in the country. These reasons can include smuggling, hoarding, or increment of the price of the stock at an international level.

Consecutively, from the upcoming week, Khan’s government will execute its strategy and will make use of the state resources to lower the price of food items.

Starting Monday in coming week, our govt will use all the resources at the disposal of the state to bring down food prices. We are already examining causes of the price hikes: whether there is a genuine supply shortage or simply hoarding by mafias; smuggling, if any;

— Imran Khan (@ImranKhanPTI) October 10, 2020

On Friday, the data gathered by the Pakistan Bureau of Statistics represented an increment of 1.24 on the food item prices. However, the crisis will soon vanish with the new strategy introduced by the Prime Minister.

South Asia has witnessed a temporary food inflation spike. Govt will take all measures needed to reduce prices of essential commodoties. Imported wheat and sugar will be released at control rates by provinces. All options are being examined for other commodities. pic.twitter.com/IByTJitMU1

— Hammad Azhar (@Hammad_Azhar) October 10, 2020

Furthermore, the statistics calculated by the PBS are based on the price of 51 necessary food items from 50 markets dispersed in 17 major cities of the nation.

PM #ImranKhan vows to use all #government resources to bring down increasing food prices in the #country from Monday

Details: https://t.co/6NXsSuoWZN#GeoNews pic.twitter.com/dfxiDKNo2k

— Geo English (@geonews_english) October 10, 2020

As the government is all set to take this significant initiative, all hopes are attached to the PM’s upcoming scheme of using the personal means of government figures.

Tags: AnnouncementGovernment of PakistanImran KhanInflationPakistanPrime Minister
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