”The period of stabilization is going to be over”, Hammad Azhar, Minister of Foreign Affairs.
He was of the opinion that the skyrocketing prices of eatables and vegetables are high due to the excessive seasonal demand and the middlemen.
”The period of stabilization is going to be over soon”,
Hammad Azhar Minister of Foreign Affairs.
While the prices of commodities crush the working class, the Minister for Economic Affairs Hammad Azhar believes that the incumbent government has not only reversed the down-trod economy of the previous government but has also steadied the main indicators.
After the meeting of the federal cabinet, Mr. Hammad Azhar said that the stabilization of the economy is also temporary and will be soon sorted out and the national economy of Pakistan will get on track.
He was of the opinion that the skyrocketing prices of eatables and vegetables are high due to the excessive seasonal demand and the middlemen. The high current account deficit of the past government is the reason why Pakistan currently is facing this challenge but they still admit inflation and take it as a challenge to improve the current situation.
The reason that he gave for the raised prices of flour is that tit started from Sindh. The government there could not acquire the required amount of wheat this year. And that leads to the rise in price all around the country. The wheat was being released from the federal government from its stocks to control the situation in the other provinces.
The taxes that PTI government was collecting from the past few months have raised 55 percent. There has also been a 25pc increase in domestic revenues. The stock market of the country also hit the increase in 6,500 points.
It is also noticed that the PSX index pitched by 1500 points in the time span of the last 3 days. Now, this is a huge improvement and a milestone of the current government and a signal that the economic recovery is on its way.
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