PM Shehbaz upbeat about drop in inflation, economic stability

ISLAMABAD (APP): Prime Minister Shehbaz Sharif on Sunday expressed his satisfaction over the significant drop in the country’s inflation rate, as reported by the Pakistan Bureau of Statistics.

The prime minister highlighted that the ‘Consumer Price Index’ fell to a record low in July 2024, bringing inflation down to 11 percent. He also welcomed economists’ forecasts of a further decline in inflation for September.

“After Fitch, the global rating agency, Moody’s recently upgraded Pakistan’s credit rating, acknowledging the country’s positive economic indicators,” the PM Office Media Wing stated in a press release, quoting the prime minister.

The prime minister emphasized that the government was pursuing a policy of economic reforms, with rapid progress on the right-sizing policy, which he was personally monitoring. He expressed confidence that the positive impact on the economy would soon be evident.

Additionally, the prime minister acknowledged the relief provided by the federal and Punjab governments to electricity consumers in their monthly bills. He also noted that the prices of petroleum products had been further reduced from today.

PM Shehbaz affirmed that the government was committed to passing on the benefits of such policies to the common man. He added that the economy was moving towards stability due to the hard work of the government’s economic and financial team.

The prime minister assured that the government was aware of the people’s issues and was working tirelessly to resolve them.