Islamabad:
Petroleum Minister Dr. Musadiq Masood Malik on Saturday stressed that controlling inflation and providing employment opportunities are the top priorities of the government. Addressing a press conference here, he said that with the Prime Minister’s directives, maximum relief to the masses is being ensured, resulting in gradual reduction of inflation across the country. The prime minister has set targets for all ministers to serve the people, reduce their burden by controlling inflation and create job opportunities, he said.
He explained that factors such as floods, natural disasters and conflicts such as the Russia-Ukraine and Middle East crises have caused an increase in the commodity cycle. However, due to the efforts of the current government and the targets set by the prime minister, the consumer price index (CPI) index has decreased from 37% to 17%. Similarly, food inflation declined from 40% to 11.5%, indicating a stabilizing trend. Petroleum prices have also come down, providing around Rs 25-26 per liter petrol relief to citizens in a month. He expressed hope that inflation would ease further in the coming days. Tractor purchases were up 50 percent, while urea production jumped 17 percent in the last year, he added.
The minister said the government will present a balanced and relief-oriented budget with a 30% increase in tax collection. The country’s exports have also increased, while imports have declined, he said. The budget will give more incentives to small businesses and the IT sector.
Published in The Express Tribune, June 2n.d2024.
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