Price hike to continue for next three months: Tarin

Federal Minister for Finance Shaukat Tarin on Wednesday said that the consumers are unlikely to see a decline in the current price hike in the next three months, according to media reports.

The salaried class and urban lower middle class are the most affected by the price hike as per Tarin who was addressing a press conference in Islamabad.

He said due to the coronavirus pandemic prices have increased all over the globe, but industries in Pakistan kept on working.

“In the international market prices hiked up to 90%. Trade deficit increased due to the rise in oil prices while the Afghan crisis weighed down Pakistan’s currency,” told Tarin

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According to Tarin, Pakistan has reached out to the International Monetary Fund (IMF) for economic support, and the country has been facing a number of challenges due to the coronavirus pandemic.

The minister said that the government initiated the Ehsaas Rashan programme to cater to 20 million households with essential items at discounted rates.

According to Tarin, interest free loans will be provided to people, an amount of Rs10 billion have been kept for the Kamyab Pakistan programme.There will be a significant increase in the allocation of money in these programmes in the coming months.

“The country’s economic growth rate remained 5.37 per cent in 2021, no one was expecting such a growth rate”, said Tarin

In addition Tarin said that the economy was moving in the right direction with record revenue collection due to increasing exports and remittances.

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