Islamabad (Lord Media): Federal Finance Minister Muhammad Aurangzeb stated that inflation will not rise further following the recent reduction in petroleum product prices. He emphasized that there was no shortage of petroleum products in Pakistan during the crisis.
Speaking on a TV program, the finance minister noted that last year’s inflation rate was in double digits, while the estimate for the next year is set at 8.2%. He mentioned that oil prices increased due to tensions between Iran and the United States, but improvement is expected following an agreement.
Prime Minister Shehbaz Sharif is visiting Geneva, and improvements are anticipated after the signing of the agreement. The State Bank has maintained the policy rate. The finance minister stated that the foundation for economic growth has been laid, and the public is investing in the stock market.
He further assured that the supply of petrol, diesel, and LPG is being ensured without interruption. During the floods, the Prime Minister decided to provide relief from his resources. An expectation of 18 billion U.S. dollars is anticipated by the end of the fiscal year.
The budget focuses on moving from economic stability to growth, and the super tax for exporters has been abolished.
