Islamabad: The inflation has significantly reduced which will have relieving impact on masses, especially the poor. This was stated by Advisor to Finance Minister on Economic and Financial Reforms Khurram Shehzad in a statement today.
According to Radio Pakistan, Khurram Shehzad highlighted that CPI inflation is at a seventy-eight month low, and food inflation also decreased last month, which suggests a higher potential for rate cuts. These developments are expected to have positive outcomes for businesses, industries, government debt servicing, and overall fiscal balances.
Shehzad pointed out that Pakistan’s trade deficit for the last month was 1.6 billion dollars, marking a 19 percent decline on a year-on-year basis. Exports have consistently increased by nine percent, while imports have decreased by three percent year-on-year last month. Additionally, oil prices have been reduced by 1.5 percent, and the exchange rate between the Pakistani rupee and the US dollar has improved to 277.9.
Khurram Shehzad al
so noted that PIA and another private sector Pakistani airline were permitted to resume their operations to Europe due to the government’s consistent efforts.