ISLAMABAD: Pakistan’s Petroleum Division Minister Dr. Masadik Masood Malik on Saturday said that controlling inflation and providing employment opportunities for the citizens were the government’s top priorities.
Addressing here at the country’s capital, Islamabad, the minister highlighted the directives of the Prime Minister Shehbaz Sharif aimed at ensuring maximum relief to the masses, resulting in a gradual decrease in inflation across the country.
Dr. Malik noted various contributing factors such as floods, natural calamities, and international conflicts impacting commodity prices. Despite these challenges, concerted efforts led by the current government have notably reduced the Consumer Price Index (CPI) from 37% to 17%. Additionally, food inflation has decreased from 40% to 11.5%, indicating progress towards stability.
Dr. Malik expressed hope for further declines in inflation in the future. He cited notable increases in tractor purchases by 50% and urea production by 17% over the past year, signaling positive economic trends.
Regarding the upcoming budget, Dr. Malik assured a balanced approach with a focus on relief-oriented measures, including a proposed 30% increase in tax collection. He also mentioned plans to incentivize small businesses and the IT sector.
Responding to questions about previous government policies, Dr. Malik acknowledged the efforts of the PML-N government in setting up power plants for affordable electricity generation. He also reiterated his party’s commitment to reconciliation and dialogue, emphasizing the importance of a charter of economy and democracy.
