ISLAMABAD, Sep 3 (Alliance News): Prime Minister Shehbaz Sharif announced that Pakistan’s inflation rate has dropped to a single digit of 9.6% in August, down from 27% the previous year. He emphasized that while this is a significant achievement, further efforts are needed to ensure economic growth and stability.
Addressing the federal cabinet, PM Shehbaz praised the finance minister, the State Bank governor, and the economic team for their hard work. He stressed the need for continued focus on key issues such as reducing circular debt, curbing tax evasion, and eliminating smuggling.
“This reduction in inflation is a positive step, but we must continue to work diligently to achieve our economic targets,” the prime minister stated. He urged the cabinet to maintain their focus on economic reforms, highlighting the importance of creating productive employment and cutting government expenditures.
PM Shehbaz also mentioned that the government is closely monitoring the prerequisites of the IMF program and is committed to fulfilling all conditions on time. He expressed hope that this would be Pakistan’s last IMF program, signaling a new era of economic self-reliance.
Earlier in the day, the prime minister shared on social media that the drop in inflation was not accidental but a result of the government’s dedicated efforts. He reiterated the government’s commitment to providing relief to the common man, acknowledging that more work lies ahead.
