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‘Pakistan fared relatively better amid global commodity price hike’

ISLAMABAD: Prime Minister Imran Khan on Sunday said Pakistan had comparatively managed “much better” than other countries amidst unprecedented price hike of commodities caused by the COVID-19 lockdown.

“An unprecedented rise in commodity prices internationally had adversely affected most of the countries in the world as a result of the COVID lockdowns,” PM Imran Khan tweeted.

However, he said, “Pakistan MashaAllah has fared relatively much better.”

The prime minister also shared a video clip of Finance Ministry Spokesperson Muzammil Aslam who rubbished the notions of Pakistan’s dwindling economy.

Quoting the data of the Food and Agriculture Organisation, he said from September to October this year, food prices increased by 1.9 per cent, World Cereal Index by 3.2 per cent, edible oil prices by 9.6 per cent, and dairy products by 2.6 per cent, APP news agency reported.

However, Muzammil Aslam said, despite the worldwide inflation trend, Pakistan’s exports recorded an increase of 17 per cent in October and were likely to touch $30 billion mark this year. Textile exports are expected to reach $22 billion this year.

He said as a result of the government’s timely measures, the non-oil imports of the country reduced by 12.5 per cent last month making a difference of $750 million.

He said due to increasing income, tax collection also surged with 32 per cent increase in four months making the government to receive additional Rs151 billion compared to the last year.

The finance ministry spokesman said according to the latest data, country’s cotton crop increased by 81 per cent during the last four months. In August, the industry recorded a growth of over 12per cent and companies’ profits by 21per cent.

“All this shows that the country’s economy is heading fast and employment would be required in the coming days,” the spokesperson commented.

To a query about any relief for the middle class in PM’s recently announced Rs120 billion relief package, he said the government had already announced a concession of Rs5-7 on every electricity unit to be consumed more than the previous year’s consumption during November to February.

courtesy: bolnews.com

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