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Islamabad, Minister for Petroleum Musadik Malik announced the government’s plans to significantly ease inflation and improve job opportunities in the upcoming budget, adhering to directives from Prime Minister Shehbaz Sharif. During a news conference, Malik emphasized the administration’s commitment to providing substantial relief to the populace amidst various national and global challenges.
According to Ministry of Information and Broadcasting, Malik outlined the government’s strategy to tackle the economic hardships faced by the public, particularly the poor, by enhancing job opportunities and reducing inflation. He reported a marked reduction in the country’s inflation rate, which has decreased from around 37% to 17%, with food inflation also dropping significantly from last year’s 40% to approximately 11%.
The Minister also highlighted a substantial increase in tax collection, noting a 30% rise this year, which he attributed to the government’s effective economic policies. This financial improvement comes despite the ongoing challenges of post-flood recovery and fluctuating global economic conditions.
Malik expressed confidence that the public will soon witness a significant reduction in the inflation rate, resulting from the government’s focused efforts in the forthcoming budget.