ISLAMABAD: The government has accused media of spreading wrong impression about inflation in the country and claimed that Pakistan fared relatively better compared to other countries of the world against unprecedented rise in commodity prices in international market.
On Sunday, Finance Ministry stated that media is giving a wrong impression to the public regarding dearness (inflation) whereas Prime Minister Imran Khan tweeted that "while an unprecedented rise in commodity prices internationally has adversely affected most countries in the world as a result of Covid lockdowns, Pakistan MashaAllah has fared relatively much better".
The Spokesperson of the Finance Ministry Muzzammil Aslam stated that the media is spreading wrong impression in the public about dearness (inflation/price hike). All the economic indicators have been moving in the positive direction and inflation has been rising all over the world for four consecutive months," said Aslam while referring to the World Food and Agriculture Organization (FAO) that according to FAO, food and drinking items have increased by 3.9 percent in the months of September and October 2021.
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He said that WFO reported that food oil prices are currently at their highest level in the global market with an increase of 9.6 percent, dairy products have increased by 2.6 percent as the entire world is in trouble right now after Corona.
Muzzamil Aslam said that Pakistan's economy is growing rapidly and exports have increased by 17.5 percent in the month of October, the highest in the last eight years and expressed optimism that for the first time the country would achieve $30 billion exports this year. Textile exports have increased $6 billion during July-October, revenue grew by 37 percent and during the last four months Rs 151 billion have been collected on account of income tax.
There has been increase of 81 percent in cotton production and non -essential imports have declined by 12.5 percent in the month of October. Aslam said that industrial growth was recorded at 12.25 percent and expressed the confidence that the economy will improve further in the coming days.
Copyright Business Recorder, 2021