ISLAMABAD: Prime Minister Imran Khan Sunday said that Pakistan had comparatively managed “much better” than other countries amidst an unprecedented price hike of commodities caused by Covid-19 lockdowns.
Taking to Twitter, the prime minister said that an unprecedented rise in commodity prices internationally had affected most countries in the world as a result of the pandemic and also shared a video clip of Finance Ministry Spokesperson Muzammil Aslam, who disregarded notions of Pakistan’s dwindling economy.
In the video, Aslam, while quoting the data of Food and Agriculture Organisation (FAO), said that from September to October this year, food prices increased by 1.9 per cent, World Cereal Index (WCI) by 3.2pc, edible oil prices by 9.6pc, and dairy products by 2.6pc.
However, he said that despite the worldwide inflation trend, Pakistan’s exports recorded an increase of 17pc in October and are likely to touch the $30 billion mark this year with textile exports expected to reach $22 billion.
He said consequent to the government’s timely measures, non-oil imports of the country reduced by 12.5pc last month making a difference of $750 million whereas due to increasing income, tax collection surged 32pc in four months (4MFY22) from which the government received an additional Rs151 billion compared to the corresponding period last year.
The spokesperson said that according to the latest data, Pakistan’s cotton crop increased by 81pc during 4MFY22.
“In August, industrial growth was recorded over 12pc and companies’ profits grew by 21pc. All this shows that the economy is growing at a fast pace and there would be many employment opportunities in the coming days,” the spokesperson commented.
Addressing a question about relief for the middle class in the PM’s recently announced Rs120 billion relief package, he said the government had already announced a concession of Rs5-7 on every electricity unit to be consumed more than the previous year’s consumption during November to February.
He said sugar prices would fall in the near future owing to a record amount sugarcane.
“All these things will appear on the ground in the coming days,” he claimed.
Moreover, the Finance Ministry’s spokesperson said that prices of oil, gas and edible oil were not in the government’s control; however, the owing to the production record crops this year, Pakistan would shift from food deficit to surplus.
