Musadik Malik credits govt’s economic policies for dramatic drop in food inflation

WEB DESK: Federal Minister for Petroleum, Dr Musadik Masood Malik, announced on Thursday that the government’s economic policies, led by Prime Minister Shehbaz Sharif, have significantly reduced food inflation from 48 per cent to just 2 per cent.

In a press conference, Dr Malik highlighted that overall inflation has decreased from 38 per cent to 12 per cent due to the government’s strategic measures. He emphasised that these improvements indicate a shift towards economic stability.

The government’s key priorities, he noted, include poverty alleviation, reducing inflation, and creating job opportunities for the youth.

Dr Malik also reported a 6.3 per cent GDP growth in rural areas and a 30 per cent increase in tax revenues. He underscored that managing inflation and job creation remain high on the government’s agenda.

Addressing political opposition, Dr Malik stated that the opposition had been given the opportunity to form a government after the elections but declined. He also criticised the opposition for drawing comparisons between Pakistan and Bangladesh.

In response to queries, Dr Malik announced that Rs50 billion has been allocated to support 86 per cent of electricity consumers for the next three months.

Additionally, despite economic difficulties, the government has set aside Rs600 billion in the federal budget to support the underprivileged and is focusing on development projects in less developed regions to create local job opportunities.

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