ISLAMABAD: Federal Minister for Petroleum Dr Musadik Masood Malik on Thursday said that the positive impact of the present government’s economic policies under the leadership of Prime Minister Shehbaz Sharif led to a substantial decline in food inflation from 48 to two percent.

Addressing a press conference, he said overall inflation in the country dropped from 38 percent to 12 percent as a result of the government’s effective steps. He maintained that the reduction in inflation and positive economic indicators demonstrate that the country was moving towards stability. Alleviating poverty, reducing inflation and providing job opportunities for the youth remain the government’s priorities.

“GDP growth in rural areas reached 6.3 percent, while tax collection raised by 30 percent,” he added.

Taming inflation, providing jobs high priorities: Musadik

Talking about the opposition, the minister said that after the elections, the opposition was offered the chance to form the government, but they refused. He further criticised the opposition for comparing Pakistan to Bangladesh.

Regarding the events of May 9, he condemned the attacks on military installations and memorials of the country’s heroes “by PTI workers”.

Federal Minister Musadik Malik said that some elements were running negative campaigns on social media.

Responding to a question, he said that Rs50 billion had been allocated to protect 86 percent of electricity consumers in the country for the next three months.

Despite economic challenges, the government has allocated Rs600 billion in the current federal budget to uplift the poor people. He added that development projects were being executed, especially in backward areas, to provide job opportunities to locals.

Copyright Business Recorder, 2024