ISLAMABAD: On Sunday, Prime Minister Muhammad Shehbaz Sharif expressed his happiness with the country’s nosediving inflation rate as well as the Pakistan Bureau of Statistics’ indicators, which suggest a drop in inflation. In July 2024, the “Consumer Price Index” reached a historic low of 11%, according to the prime minister, who also hailed the prognosis by economists for further inflation decrease in September.
“Moody’s recently improved Pakistan’s credit rating, which is an acknowledgment of the country’s strong economic indicators by the foreign financial institutions,” the prime minister said in a news statement from PM Office Media Wing, after the global rating agency Fitch.
The prime minister went on to say that the government was following an economic reform program and that he was overseeing the right-sizing policy’s implementation, which was moving along quickly. He conveyed his optimism that it will quickly show its beneficial effects on the economy.
The prime minister added that the costs of petroleum goods had been further lowered as of today, acknowledging that the federal and Punjabi governments had given electricity users a significant reprieve in terms of their monthly expenses. According to the prime minister, the administration thought that the average person should reap the rewards of these initiatives.
He continued by saying that the government’s economic and finance team had done a great job and the economy was heading toward stability. He stated that the government was aware of the problems facing the populace and was working around the clock to find solutions.
