Prime Minister Shehbaz Sharif expressed on Sunday his satisfaction over the "decline in inflation rates and the improvement" in economic indicators as reported by the Pakistan Bureau of Statistics.
Reacting to the latest data, PM Shehbaz highlighted that the Consumer Price Index (CPI) saw a record decrease in July 2024, bringing the inflation rate down to 11%. He said: "The economic experts have predicted a further reduction in inflation in September, which is a positive sign for the country's economy.
The prime minsiter also pointed out that following Fitch, Moody’s had upgraded Pakistan’s credit rating, a recognition of the country’s improving economic indicators by international financial institutions.
PM Shehbaz expressed his resolve that the government is steadfastly pursuing economic reforms and actively working on the right-sizing policy, which he is personally overseeing.
He assured that the positive impacts of the reforms will soon be evident in the economy.
PM Shehbaz mentioned that both the federal and Punjab governments had provided significant relief to the electricity consumers through billing adjustments. He also announced a further reduction in petroleum product prices starting today.
He lavished his praise on the efforts of the government’s economic and financial team, stating that the economy is steadily moving towards stability.
Acknowledging the challenges faced by the public, PM Sharif affirmed that the government is working tirelessly to address their difficulties and resolve their issues.
