Inflation to decrease in coming months, Asad predicts

Inflation would lower down to a single digit by the end of this year, as compared to 12.6pc recorded in December 2019, Planning Development and Special Initiatives Minister Asad Umar predicted on Wednesday.

Talking to the media in Islamabad, he said that the government was taking steps to reduce the percentage of interest rate this year, which would boost investment opportunities. He noted that credit offtake by the private sector had not increased much in the past six months because of higher interest rates.

The minister stressed the need for enhanced cooperation between the public and private sectors, saying that through public-private partnerships, mega projects would be started in Karachi very soon.

“Water, transport, sewerage and sanitation system were the major problems for the people of Karachi and the federal government is taking steps to resolve them,” he maintained. The government, with the help of political parties including the Muttahida Quami Movement and Pakistan Peoples Party (PPP), would provide facilities to people of the mega-city without any discrimination.”

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