4pc growth targeted for ongoing fiscal year ‘PTI govt’s economic vision goes on in right direction’

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Vice President, Fehmida Kausar Jamali on Monday said consistent economic polices of the incumbent government have been given dividends now, as the federal government is targeting a 4 percent economic growth for ongoing fiscal year which reflects that the upcoming fiscal target will be near to 6 percent.

“The surplus in current account, increase in foreign remittances, unprecedented response through Roshan digital accounts and growth in Large Scale Manufactures (LSM) have shown that PTI government’s economic vision goes on in right direction” and it was needed too for the country for the right track, said a press release.

Fehmida Jamali further told that until and unless rupee cannot be stable the shocks of inflation may be witnessed time to time, however soon masses will be witness more correction in exchange rate.

“The weakening currency has impacted the consumers’ purchasing power as devaluation fueled inflation. With devaluation, there is inflation, when there is inflation, your disposable income goes down, which affects consumption behavior and spending power”.

Fehmida asserted that the government was also trying to overcome the ongoing inflation as the aim of its measures was to provide relief to the poor and the salaried class and to ensure provision of essential commodities to the people at reduced rates.

The nation should rest assured that all cartels will be held accountable in the light of Imran Khan’s vision.

However, she also suggested that all provincial governments would also place an independent price monitoring mechanism.

“The prices and supplies of daily-use commodities may be verified through sources other than government officials. All deputy commissioners should prepare a weekly report on any violation of official price list for essentials and that report may be reviewed by chief ministers and such measures may strengthen social accountability and help elected leadership to better respond to the hardships faced by citizens during times of inflation”, the PTI leader said.

She also urged Competition Commission of Pakistan (CCP) to increase their efficiency so that common man could get relief from corporate sector prices as dollar is almost 17 rupees down from the last year but there was no reduction in prices seen especially in pharmaceutical and automobile sectors; while those prices must have come down considerably by now ranging from 20 percent to 25 percent.

Copyright Business Recorder, 2021