Finance Ministry spokesperson Muzammil Aslam on Wednesday said that despite rising inflation, Pakistan’s economy has shown some positive developments like increasing exports and foreign exchange reserves.
Pakistan’s exports increased by 18 per cent, whereas imports increased by 23 per cent during last year, he said while addressing a press conference.
Aslam added that the government is taking measures to reduce inflation which has been on an upwards trajectory since July 2021.
“Despite the crisis, the country’s foreign exchange reserves reached a historic high level of $23 billion during this period,” Aslam said.
Aslam also said that the price of flour has stabilised and prices of other food items have also decreased during the last few months adding that sugar prices are stable at Rs81 per kg.
“However, the government is facing difficulty in reducing the prices of imported commodities,” the spokesperson said.
Aslam further said that inflation in Pakistan is expected to fall in line with the expectations of a fall in global inflation.
Aslam said that Pakistan’s foreign exchange reserves touched a historic high during Covid-19, a period in which most global economies were in a meltdown, adding that the Pakistani rupee has been recently appreciating against the US dollar.
