AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad: Prime Minister Shehbaz Sharif has expressed satisfaction over the reduction in inflation to its lowest level in 81 months, highlighting a significant achievement in his government’s economic reform agenda. The decline to 4.1 percent last month marks a notable shift in the country’s economic landscape.
According to Ministry of Information and Broadcasting, Prime Minister Sharif described this reduction in inflation as a positive development. He emphasized that achieving macroeconomic stability is merely the starting point of a broader economic transformation. The government has launched Uraan Pakistan, a homegrown five-year National Economic Transformation Plan, aimed at positioning Pakistan among the world’s leading economies.
The Prime Minister elaborated on his government’s economic reforms, noting that the Current Account Deficit has turned into a surplus after 24 years. Alongside the decline in the inflation rate from 38 percent to 4.1 percent, the Pakistan Stock Market has been ranked as the second-best market globally. Additionally, the policy rate has decreased to 13 percent from 22 percent.
Sharif attributed the economy’s movement towards stability to the government’s economic policies and the efforts of its economic team. He acknowledged the challenges faced by the populace and reiterated the government’s commitment to addressing these issues. The Prime Minister expressed hope that the economic improvements will translate into better living conditions for the people in the near future.