ISLAMABAD: While expressing concern over the persistent increase in the prices of essential commodities, a meeting of the Senate Standing Committee Finance has summoned Adviser to the Prime Minister on Finance, Secretary Finance, Governor State Bank of Pakistan (SBP), and chairman FBR to explain causes of untamable inflation.
Soon after the proceedings of the meeting started under the chairmanship of Senator Talha Mehmood on Thursday, Sadia Abbasi, a senator of Pakistan Muslim League-Nawaz (PML-N) stated that inflation is the most important issue for the people right now in the country and the committee must take notice of the situation and seek briefing from the government economic team on inflation in particular and overall economic situation in general.
She said that purchasing power of the people has been eroded with the increase in prices of essential commodities on a daily basis and there has been no respite in inflation.
A majority of the members of the committee as well as its chairman agreed that there is a protest like situation all over the country due to persistent increase in the prices of essential commodities and the situation demands a detailed briefing from the economic team of the government over the causes and measures being taken to address it.
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Senator Mehmood inquired from an official of the Finance Ministry as to when the Adviser on Finance, Secretary Finance, and other key members of the government’s economic team would be available for briefing at the earliest.
He said that the officials should also convey to their high-ups that the committee will only take briefing from Adviser on Finance, Secretary Finance, Governor SBP, and Chairman FBR.
The Finance Ministry’s official took some time from the committee to confirm when Adviser on Finance and Secretary Finance will return back home from the United States, where they are holding negotiations with the International Monetary Fund (IMF) on the sixth review of the Extended Fund Facility (EFF).
Later on, the official informed the committee that the finance secretary will leave for home today from the US and join the office on Monday, while the Adviser on Finance will return on Tuesday, October 26.
Copyright Business Recorder, 2021
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