Pakistan forecasts below 9 per cent inflation in Sept-Oct

ISLAMABAD: The finance division on Friday said that inflation in Pakistan will stay beweteen the range of 8 to 9 per cent in September and October compared to 9.6 per cent in August.

In its Monthly Economic Update & Outlook report for September, the finance division said that economy has witnsessed positive signs in the first two months of the current fiscal year with the country receiving all-time high remittances coupled with a boost in industrial production and exports. The inflation fell to a single digit in the last two months, the report said.

The report expects remittances between the range of $2 billion and $3 billion in September.

Finance Minister Muhammad Aurangzeb said on Thursday that now there was no room for non-filers, warning that imposing strict restrictions on them will delimit their accounts facilities further.

Speaking to an American TV channel, Aurangzeb said that “Our collected data about these non-filers showed all their assets and overall creamy lifestyle and trip to developed countries, leading us to know about their source of income.”

The enactment of the new policy will bring sectors like property dealers, retailers, wholesalers and agriculture into the tax net, the minister said.