The crushing weight of inflation - Does anybody care about Pakistan's people plight?

[FearlessRoar]

The streets of Pakistan are filled with the sounds of despair. Families are struggling to make ends meet, their incomes stretched to the limit by soaring prices. The once-thriving markets now stand empty, a testament to the devastating impact of the economic crisis.

The latest Asian Development Outlook report may boast of a promising 5% economic growth for the region, but for Pakistan, the reality is starkly different. Our inflation rate remains elevated, our debt suffocating, and our revenue allocated mostly towards debt repayment.

But behind these numbers are real people, real stories, and real struggles. The father who works multiple jobs to feed his family, the mother who sacrifices her own meals to ensure her children have food, the young adult who graduates from university with a degree but no job prospects, and the elderly who must choose between medicine and food.

The people of Pakistan deserve better. We deserve a government that cares about our struggles, our hardships, and our future. We deserve a government that prioritizes our needs, not just the interests of the elite. We deserve a government that takes concrete steps to address our economic challenges and ensures a brighter future for all Pakistanis.

 

[DeadlyVenom]

@FearlessRoar didn't you want this government?

 

[ElRaja]

The people of Pakistan deserve better.

why?

pakistanis have gotten exactly what they deserve, this is the price to pay for decades of divisive, ethnocentric, patronage politics.

 

[Kianig89]

Pakistan is a mess, commodity prices sky high, fuel etc out of reach, insane tax rates, add to it the time bomb of electricity bill every month just suking out the juice if somebody has any.

Industries being shut down due to high fixed cost add to it the interest rates have ensured that people keep their money in banks, sadly no political parry has a comprehensive solution

 

[FearlessRoar]

@FearlessRoar didn't you want this government?

Yes and I don't want Imran Khan's government either

 

[FearlessRoar]

why?

pakistanis have gotten exactly what they deserve, this is the price to pay for decades of divisive, ethnocentric, patronage politics.

This is the price of poor management and instability

 

[Bhaijaan]

It’s a temporary phase. This government is pro business and will keep looking for new avenues to generate revenue. It’s much better than previous regime when you had a corrupt PM who even sold state secrets for money.

 

[ElRaja]

This is the price of poor management and instability

who tolerated the establishment when they broke the country, when they picked and chose civilian leaders, and who chose the civilian leaders who appealed to only the most base and divisive tribalism?

the people of Pakistan are squarely to blame for the mess that country has become, Pakistan has got the leaders the people deserved.

 

[FearlessRoar]

who tolerated the establishment when they broke the country, when they picked and chose civilian leaders, and who chose the civilian leaders who appealed to only the most base and divisive tribalism?

the people of Pakistan are squarely to blame for the mess that country has become, Pakistan has got the leaders the people deserved.

Well somehow you are right, this nation gather at chowks for stupid politicians , but they never protested and gather like a sea for their basic rights or against inflation.

 

[Varun]

The first and only people that should care about Pakistan's problems - and inflation is just the tip of the iceberg there - are Pakistanis themselves.

It's very befuddling. Many other nations have stood up and revolted for far less. But Pakistan seems to amble along no matter what happens.

 

[UP]

This is the result of 77 years of establishment hold across the country. The establishment’s unlimited power has destroyed the core of the country.

Pakistan urgently needs a strong govt voted in with a strong public mandate so difficult decisions and reforms can take place. It will be a long and painful journey.

I believe the status co or the current system will fall one day because it is simply not sustainable.

 

[FearlessRoar]

The first and only people that should care about Pakistan's problems - and inflation is just the tip of the iceberg there - are Pakistanis themselves.

It's very befuddling. Many other nations have stood up and revolted for far less. But Pakistan seems to amble along no matter what happens.

Despite a population of 235.8 million, no one has dared to publicly protest in front of parliament about the high inflation rates, because as a nation, we lack clear goals and the intelligence to recognize our rights. Instead, we prioritize our leaders' interests and ego protection.

 

[FearlessRoar]

This is the result of 77 years of establishment hold across the country. The establishment’s unlimited power has destroyed the core of the country.

Pakistan urgently needs a strong govt voted in with a strong public mandate so difficult decisions and reforms can take place. It will be a long and painful journey.

I believe the status co or the current system will fall one day because it is simply not sustainable.

For this we need to give establishment a safe exit

 

[aboveandbeyond]

For this we need to give establishment a safe exit

The establishment have had their fingers in the pie for to long to exit.
As long as poodles who are willing to be their Yes men, nothing will change.

 

[Nikhil_cric]

who tolerated the establishment when they broke the country, when they picked and chose civilian leaders, and who chose the civilian leaders who appealed to only the most base and divisive tribalism?

the people of Pakistan are squarely to blame for the mess that country has become, Pakistan has got the leaders the people deserved.

It's always unfair to blame the people for the issues they face. It's very difficult to form informed opinions and even harder for the common man to discern what is in their best interests for the long.

Look at the UK for example. You have Rishi Sunak on the one hand and a Zionist Labour party on the other hand . A highly educated populace like the UK only has these choices. Third World countries have struggles that go beyond what most in the First World can imagine . A family struggling to make ends meet will vote for promises of food subsidies than look at long term national interests etc.

 

[Red-Indian]

The streets of Pakistan are filled with the sounds of despair. Families are struggling to make ends meet, their incomes stretched to the limit by soaring prices. The once-thriving markets now stand empty, a testament to the devastating impact of the economic crisis.

The latest Asian Development Outlook report may boast of a promising 5% economic growth for the region, but for Pakistan, the reality is starkly different. Our inflation rate remains elevated, our debt suffocating, and our revenue allocated mostly towards debt repayment.

But behind these numbers are real people, real stories, and real struggles. The father who works multiple jobs to feed his family, the mother who sacrifices her own meals to ensure her children have food, the young adult who graduates from university with a degree but no job prospects, and the elderly who must choose between medicine and food.

The people of Pakistan deserve better. We deserve a government that cares about our struggles, our hardships, and our future. We deserve a government that prioritizes our needs, not just the interests of the elite. We deserve a government that takes concrete steps to address our economic challenges and ensures a brighter future for all Pakistanis.

Not saying I don't sympathise but it is a little strange time for the thread when the May print @12% was the lowest inflation number in 30 months. Of course a lot of it is base effect from a scary run of inflation last year but Pakistan's tight money policy seems to finally reining the demon in. This time last year, there was actually talk of hyperinflation. I understand this is tough to see on the street yet but that'll come too.

 

[DeadlyVenom]

The first and only people that should care about Pakistan's problems - and inflation is just the tip of the iceberg there - are Pakistanis themselves.

It's very befuddling. Many other nations have stood up and revolted for far less. But Pakistan seems to amble along no matter what happens.

I dont think the people care. They just meander along.

Someone living under the poverty line isn't going to care whether inflation is 12% or 1200%. They will rely on alms regardless.

The upper classes don't care. They still have enough to live decent lives.

Honestly there is such a wide disconnect between the numbers, outputs and metrics used to measure Pakistan and the day to the day lives of people. I'm not saying that life is good by any means BUT the situation is not as bad as people crying in despair and the markets being empty.

 

[Aang_The_last_airbender]

It just highlights how difficult it is for Pakistani public to fight back. if a bit of directness on an internet forum cant happen, what can a poor guy on the street do.

 

[Aang_The_last_airbender]

Despite a population of 235.8 million, no one has dared to publicly protest in front of parliament about the high inflation rates, because as a nation, we lack clear goals and the intelligence to recognize our rights. Instead, we prioritize our leaders' interests and ego protection.

I think we have seen what happens to protests in Pakistan. If you are in Pakistan, be safe brother!

 

[ElRaja]

It's always unfair to blame the people for the issues they face. It's very difficult to form informed opinions and even harder for the common man to discern what is in their best interests for the long.

Look at the UK for example. You have Rishi Sunak on the one hand and a Zionist Labour party on the other hand . A highly educated populace like the UK only has these choices. Third World countries have struggles that go beyond what most in the First World can imagine . A family struggling to make ends meet will vote for promises of food subsidies than look at long term national interests etc.

you cannot use the UK as an example because the people in the UK have a decent life, you can understand their political apathy. i lived in Pakistan, and there is no excuse for their voting patterns, people may not understand the complexities of economic systems, or political theories, but they know they are being robbed hand over fist, and they've known this for decades, yet they vote and support the same system of patronage, and not just out of desperation, but out of tribal loyalties.

 

[FearlessRoar]

Pakistan inflation slows to three-year low

Pakistan’s headline inflation clocked in at 11.1% on a year-on-year basis in July 2024, Pakistan Bureau of Statistics (PBS).

This is the lowest CPI figure since November 2021 when it stood at 11.5%, the report said.

On a month-on-month basis, CPI inflation increased by 2.1% in July 2024 as compared to rise of 0.5% last month.

The PBS said CPI inflation urban clocked in at 13.2% on year-on-year basis in July 2024, as compared to an increase of 14.9% in the previous month and 26.3% in July 2023.

On month-on-month basis, it increased to 2.0% in July 2024 as compared to an increase of 0.6% in the previous month and an increase of 3.6% in July 2023.

CPI inflation rural increased to 8.1% on year-on-year basis in July 2024 as compared to an increase of 9.3% in the previous month and 31.3% in July 2023.

On month-on-month basis, it increased to 2.2% in July 2024 as compared to an increase of 0.3% in the previous month and an increase of 3.3% in July 2023.

The Asian Development Bank in its reported, released last month, predicted a 7% decrease in Pakistan’s debt volume.

According to the report, the debt volume is expected to decrease from 77% to 70% of the country’s GDP.

The report also states that 62% of Pakistan’s revenue will be spent on debt repayment in the current fiscal year. Additionally, the report predicts that inflation will remain high in Pakistan in the current fiscal year.

Pakistan inflation slows to three-year low

Pakistan’s headline inflation clocked in at 11.1% on a year-on-year basis in July 2024, Pakistan Bureau of Statistics (PBS). This is the lowest CPI figure

arynews.tv

 

[Kianig89]

Everything can be sorted but the mafia and cartels are letting it done, every industry/ union blackmailing govt. on tax policies though the govt is also responsible for not having a transparent and uniform mechanism for taxation

 

[guard]

The first and only people that should care about Pakistan's problems - and inflation is just the tip of the iceberg there - are Pakistanis themselves.

It's very befuddling. Many other nations have stood up and revolted for far less. But Pakistan seems to amble along no matter what happens.

You have no idea what Pakistanis endure and continue to endure. The minute you revolt, a 9mm will be embedded in you multiple times and your belongings will soon be another’s property, and thats before you hit the ground. All the while things will continue as they are, no change, IMF visits, LDN calling visits, is it really worth dying for zilch?

 

[FearlessRoar]

Pakistan’s short-term inflation falls by 0.12pc

The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed a decrease of 0.12 percent for the combined consumption groups during the week ended on August 1, the Pakistan Bureau of Statistics (PBS) reported on Friday.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 321.56 points as compared to 321.95 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 18.41 per cent.

During the week, out of 51 items, prices of 24 (47.06%) items increased, 7 (13.72%) items decreased and 20 (39.22%) items remained stable.

The items, which recorded major decrease in their average prices on a week-on-week basis included electricity charges for Q1 (15.80%), bananas (4.87%), diesel (3.81%), petrol (2.23%), wheat flour (0.98%) and sugar (0.21%) and cigarettes (0.21%).

The commodities which recorded major increase in their average prices on week-on-week basis included chicken (5.91%), eggs (1.58%), cooked daal (1.05%), pulse gram (0.78%), cooked beef (0.53%), rice basmati broken (0.44%), garlic (0.43%), onions (0.40%), shirting (0.09%) and LPG (0.06%).

On-year basis, the commodities that witnessed decrease included wheat flour (32.28%), electricity charges for q1 (15.46%), cooking oil 5 litre (13.44%), vegetable ghee 2.5 kg (9.99%), vegetable ghee 1 kg (9.21%), eggs (7.90%), chili powder (7.04%), mustard oil (6.80%), rice basmati broken (5.68%), petrol(1.20%) and diesel (0.16%).

The commodities which recorded an increase in their average prices on year-on-year basis included gas charges for Q1 (570.00%), onions (86.53%), pulse gram (41.78%), powered milk (32.32%), pulse moong (30.21%), garlic (27.88%), shirting (25.09%), gents sandal (25.01%), salt powder (23.28%), beef (23.13%), pulse mash (21.22%) and energy saver (17.96%).

Pakistan's short-term inflation falls by 0.12pc

The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed a decrease of 0.12 percent for the combined consumption groups during the

arynews.tv

 

[Varun]

You have no idea what Pakistanis endure and continue to endure. The minute you revolt, a 9mm will be embedded in you multiple times and your belongings will soon be another’s property, and thats before you hit the ground. All the while things will continue as they are, no change, IMF visits, LDN calling visits, is it really worth dying for zilch?

 

[guard]

Yes, theres that, but Pakistanis know they will be annihilated and for nothing. Nowt will change, ever, in Pakistan, and Pakistanis know it, the ship has almost sunk, Pakistanis have lost empathy with their own motherland. Why? Because there is a long line if thieves in the queue, each worse than the person before him/her. Pakistanis would love to emulate India growth and prosperity but they know it will never happen there, never in 100 millennia’s. Kudos to Bangladesh!!

 

[FearlessRoar]

74 percent of Pakistanis unable to meet expenses; 10% doing two jobs

Financial difficulties among urban Pakistani households have soared by 14% over the past year, resultantly, a staggering 74% of urban population in Pakistan, the south Asian country, are unable to meet their monthly expenses with their current income.

This represents a significant increase from May 2023, when 60% of households reported financial struggles, according to the latest study by Pulse Consultant.

Of those currently struggling to make ends meet, 60% have had to cut back on essential expenses, including groceries, while 40% have resorted to borrowing money from their acquaintances. Furthermore, 10% have taken on part-time jobs to supplement their income.

The survey of Pakistan, the country with roughly 240 million population, also highlighted that more than half, 56%, of those who are just managing to cover their expenses are unable to save any money after meeting their basic needs.

The findings are based on a telephonic poll conducted by Pulse Consultant from July to August, involving over 1,110 respondents from the 11 largest cities in Pakistan, revealed Kashif Hafeez Siddiqui, CEO of Pulse Consultant, on ARY News’ program Sawal Yeh Hai. The age group of participants ranged from 18 to 55 years.

As the economic challenges is ongoing, Pulse Consultant plans to launch a second round of detailed urban-based studies later this month. This upcoming survey will gauge the impact of inflation on purchasing and consumption habits, highlighted the CEO, with a larger sample of over 1,800 respondents across 17 major cities in Pakistan.

74 percent of Pakistanis unable to meet expenses; 10% doing two jobs

ISLAMABAD: Financial difficulties among urban Pakistani households have soared by 14% over the past year, resultantly, a staggering 74% of urban

arynews.tv

 

[FearlessRoar]

Due to the economic crisis, high inflation, and rising unemployment in Pakistan, many people are migrating abroad in search of better economic opportunities, safety from conflicts, and improved living standards.

 

[FearlessRoar]

Inflation rate sees slight dip after weeks of surge​

In a welcome respite for the inflation-battered citizens of Pakistan, the latest statistics from the Federal Bureau of Statistics reveal a marginal decrease of 0.1 percent in the inflation rate over the past week.

This drop comes after a prolonged period of relentless price hikes, bringing some much-needed relief to the common man.

According to the data, the prices of nine essential items, including tomatoes, wheat flour, onions, sugar, chicken, lentils, and bread, have witnessed a decline. However, the prices of 21 other items, such as eggs, pulses, potatoes, beef, milk, and LPG, continue to soar.

On an annual basis, the statistics reveal that the price of onions has surged by 89.5 percent, while chickpea lentils have gone up by 34 percent, and tomatoes by 28 percent.

Over the past year, the cost of dry milk has increased by 26 percent, beef and lentil mong by 24 percent, and garlic by over 28 percent. Additionally, gas charges have skyrocketed, with an increase of up to 570 percent.

Moreover, the prices of dry milk, big meat, lentil mong, and garlic have risen by 26 percent, 24 percent, 24 percent, and 28 percent, respectively, over the same period. The most striking increase, however, is in gas charges, which have skyrocketed by a whopping 570 percent.

Latest Inflation Rate in Pakistan, Prices Still Soar (August 2024)

Pakistan's inflation rate has seen a minor decline of 0.1% in the past week, offering some relief to consumers. However, prices for many essential items continue to rise significantly.

www.samaa.tv

 

[Champ_Pal]

Pakistan should spend less on military and more on feeding their people. The enmity with India will never pay. Kashmir cause is a total waste of money.

 

[FearlessRoar]

Ali Muhammad Khan laments 'ballooning' inflation​

Pakistan Tehreek-e-Insaf (PTI) leader Ali Muhammad Khan lamented on Thursday that the country was witnessing "ballooning" inflation in the country.

Expressing his thoughts, Khan said: "The country is facing hardships. Even look at the situation in Balochistan. What about the law and order now? The country was witnessing peace before."

"We are not going to escape and leave the PTI founder," he said.

– PTI welcomes Fazlur Rehman's move to 'stand against status quo': Ali Muhammad Khan –

Few days back, Ali Muhammad Khan said that his party welcomes the JUI-F chief Maulana Fazlur Rehman's move to "stand against the status quo.".

Expressing his thoughts, Rehman said: "We are having the numerical majority in the assembly in reality. These people are the result of Form-47.

"There was a recommendation of the committee meeting in line with the Mubarak Sani case," he said.

He said, "The PTI founder has postponed the public gathering with a heavy heart as he does not want to give anybody any opportunity."

Speaking about the meeting between President Asif Ali Zardari and Rehman, Khan said: "Meetings with one another are a part of the political process."

Earlier today, President Asif Ali Zardari on Saturday visited the residence of Rehman, accompanied by Federal Interior Minister Mohsin Naqvi.

The meeting, which took place in a warm and cordial atmosphere, focused on discussing the current political situation in the country.

During the visit, the exchange underscored the mutual respect between the two leaders, who have long been key figures in Pakistan’s political landscape.

Pakistan News: PTI leader laments 'ballooning' inflation

Pakistan Tehreek-e-Insaf (PTI) leader Ali Muhammad Khan lamented on Thursday that the country was witnessing "ballooning" inflation in the country.

www.samaa.tv

 

[Bewal Express]

Establishment care only about money and have appointed the biggest criminals to systematically destroy the economy and every institution. They have a CJP that is the worst in PKs history and has smashed the constitution to protect his pay masters.

 

[Kianig89]

The rec. Wing in HQ has increased the salary of (R) off. working in subsidiary org. by a whooping 50% . Civ. working in Same inst. got the routine 15&20% hike whereas special Inc. For these persons citing an order from higher auth.

No wonder the country is in mess, and even an average hardworking indvl doing some 8hr job has no proper avenue to invest or achieve wealth maximisation

 

[FearlessRoar]

PM Shehbaz 'satisfied' with drop in inflation, economic stability

Expressing satisfaction over the "nosediving of inflation rate" in the country, Prime Minister Shehbaz Sharif has said that the economy is moving towards stability owing to the hard work of the government’s financial team.

Citing the details shared by the Pakistan Bureau of Statistics (PBS), the prime minister said on Sunday that the ‘Consumer Price Index’ fell to record low in July 2024, bringing inflation to 11% and welcomed the forecast of further decline in the inflation rate in the current month of September.

Meanwhile, the Ministry of Finance — in its monthly outlook report — stated that on account of stability in economic indicators, inflation is expected to remain within the range of 9.5-10.5% in August and further decline to 9-10% in September.

“After Fitch, the global rating agency, Moody’s recently upgraded Pakistan’s credit rating, which is an acknowledgement of the country’s positive economic indicators by the international financial institutions,” the PM Office Media Wing, in an official statement, quoted the premier as saying.

The government is pursuing a policy of economic reforms and the implementation work is rapidly in progress over the rightsizing policy of the government which the premier himself is monitoring, according to the communique.

PM Shehbaz also expressed the confidence that its positive impact on the economy would be visible soon.

At the same time he also acknowledged that the federal and Punjab governments had provided a big relief to the electricity consumers in respect of monthly bills, adding the prices of petroleum products were further reduced from today.

The Pakistan Muslim League-Nawaz (PML-N)-led government announced a reduction of Rs14 per unit in the electricity tariff for August and September under a power subsidy plan for consumers using 201 to 500 units.

The premier said that the government believed in passing on all the benefits of such policies to the common man. “The government is cognizant of the issues of the people and was striving day and night to resolve them,” he added.

Earlier in August, Moody's Ratings upgraded Pakistan's local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3 owing to improvement in macroeconomic conditions.

“We have also upgraded the rating for the senior unsecured MTN programme to (P)Caa2 from (P)Caa3. Concurrently, the outlook for the Government of Pakistan has changed to positive from stable,” the rating agency said in a statement.

Accordingly, Pakistan's default risk has reduced to a level consistent with a Caa2 rating, as per Moody’s. “There is now greater certainty on Pakistan's sources of external financing, following the sovereign's staff-level agreement with the IMF on 12 July 2024 for a 37-month Extended Fund Facility (EFF) of $7 billion.”

The release of the International Monetary Fund’s (IMF) latest schedule is a significant development, but the absence of Pakistan's loan approval on the agenda is a cause of concern as it is critical for the country to secure the loan to shore up its sinking economy.

On the other hand, the government remained optimistic that the country will secure approval for a $7 billion bailout package from the IMF next month, sources privy to the matters told Geo News earlier this week.

Finance Minister Aurangzeb last week also dismissed concerns about the IMF declining the staff-level agreement, exuding confidence that "the lender will approve it next month".

Pakistan and the global lender had reached an agreement on the 37-month loan programme in July.

The IMF said the programme was subject to approval from its Executive Board and obtaining "timely confirmation of necessary financing assurances from Pakistan's development and bilateral partners".

PM Shehbaz 'satisfied' with drop in inflation, economic stability

PM Shehbaz says economy moving towards stability.Acknowledges relief in electricity bills, POL prices.Govt believes in passing benefits to common man. ISLAMABAD: Expressing satisfaction over the nosediving of inflation...

www.geo.tv

 

[The Bald Eagle]

Pakistan’s consumer price index (CPI) in August rose 9.6 per cent year-on-year (YoY), marking a 34 month-low, data from the Pakistan Bureau of Statistics (PBS) showed on Monday

The CPI measures household inflation and includes statistics about price change for categories of household expenditure.

“CPI general inflation increased to 9.6pc on year-on-year basis in August 2024 as compared to an increase of 11.1pc in the previous month and 27.4pc in August 2023,” PBS said.

The monthly inflation rate was 0.39pc, the PBS said.

According to Karachi-based brokerage firm, Topline Securities, the reading for August “is at 34 months low”.

“This takes 2MFY25 average inflation to 10.36pc compared to 27.84pc in 2MFY24,” it said in a comment.

The data showed that urban inflation increased by 11.7pc while rural inflation increased by 6.7pc in August.

Speaking on the development in the National Assembly, Information Minister Attaullah Tarar said the decrease was the “proof of success” under the prime minister’s leadership.

He said inflation had reached the single digits due to the government’s measures.

In July, inflation had risen to 11.1pc on a YoY basis as compared to an increase of 12.6pc in the month of June and 28.3pc in July 2023. In May, it had hit 11.8pc — a 30-month low.

Earlier, Prime Minister Shehbaz Sharif had expressed satisfaction over a falling rate of inflation and improvements in other economic indicators.

The premier’s statement came after the Ministry of Finance said in its August outlook on Friday that inflation was expected to remain in the range of 9.5-10.5pc in August and further decline to 9-10pc in September “on account of stability in economic indicators”.

“After Fitch, the global rating agency, Moody’s recently upgraded Pakistan’s credit rating, which is an acknowledgement of the country’s positive economic indicators by the international financial institutions,” said PM Shehbaz.

Global rating agency Moody’s upgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa3, saying its decision to upgrade was due to “Pakistan’s improving macroeconomic conditions and moderately better government liquidity and external positions, from very weak levels”.

Year-on-year​

Urban: Food item prices that increased on a YoY basis included: Onions (136.32pc), Fresh Vegetables (76.35pc), Pulse Gram (42.35pc), Besan (31.15pc), Fish (28.98pc), Fresh Fruits (27.32pc), Pulse Moong (25.05pc) and Milk Powder (24.17pc).

Non-food items prices that increased: Gas Charges (318.74pc), Motor Vehicle Tax (168.79pc), Dental Services (28.84pc) and Cotton Cloth (24.17pc)

Source: Dawn News

 

[The Bald Eagle]

Employees of the Utility Stores Corporation (USC) have ended their sit-in following assurances from Federal Minister for Industries and Production, Rana Tanveer Hussain, that there are no plans to shut down the USC

In a meeting held with USC employees, the minister reassured them of the government's commitment to maintaining the operations of the Utility Stores. "There is no plan to close the Utility Stores Corporation. We are focusing on restructuring the organisation to improve efficiency," Rana Tanveer stated.

Employees announced the end of their protest after receiving confirmation that a subsidy of Rs50 billion under the Benazir Income Support Programme (BISP) and an additional Rs10 billion Ramazan package allocated in the budget would be provided.

Rana Tanveer also agreed to form a committee to oversee the restructuring of the USC. The committee will include representatives from all unions, ensuring that employees have a say in the restructuring process.

"We will protect the interests of all government employees. All decisions will be made with the consultation of the employees and other stakeholders," the minister assured.

These assurances have brought an end to the employees' protest, with workers expressing relief over the commitment to safeguard their jobs and benefits.

USC employees had launched a sit-in in the federal capital, protesting against the government's plans to close the organisation under its rightsizing initiative last month.

The federal government decision to close utility stores nationwide, was expected to significantly impact millions of low-income families who rely on discounted essential goods.

The decision followed the discontinuation of a Rs50 billion subsidy that previously offered relief to around 26 million households.

During a recent Senate Standing Committee meeting, the Secretary of Industry had confirmed that the government was indeed considering shutting down utility stores as part of a right-sizing initiative.

Source: The Express Tribune

 

[FearlessRoar]

Punjab to Create New Department to Combat Inflation​

Punjab’s Minister for Information, Azma Bukhari, announced that the provincial government has decided to establish a new department to control inflation.

She added that the bill will soon be presented in the provincial assembly for approval. Bukhari highlighted that inflation has dropped into single digits and Pakistan is recovering.

When questioned about constitutional amendments, Bukhari clarified that only Parliament has the authority to write or amend the Constitution, and no one has the right to “rewrite” it. Amendments will be made if necessary, as the government has had the required numbers from the beginning.

The minister criticized those trying to create unrest in Pakistan, accusing them of having destructive intentions. She remarked that these elements aim to destabilize the country, sometimes comparing it to Sri Lanka and at other times using threats of nuclear catastrophe or sending anti-state letters to the IMF.

She also dismissed circulating rumors about potential changes in leadership or governance in October or November, firmly rejecting such speculation.

Bukhari emphasized the importance of regulating social media, expressing concern that the distinction between truth and falsehood has become increasingly unclear. She highlighted that major platforms like “X” and Facebook currently operate without offices or formal agreements in Pakistan.

The minister advocated for suspending social media apps that do not agree to cooperate with the government, stressing the need for accountability and responsible use of these platforms within the country.

Punjab to Create New Department to Combat Inflation

Punjab’s Minister for Information, Azma Bukhari, announced that the provincial government has decided to establish a new department to control inflation.

propakistani.pk

 

[Sher Khan]

So Pakistan's inflation has reduced down to 6.9 percent which is a 44 month low. Let me remind posters on here, that 44 months ago Imran was still in power. The PDM didnt come in power till April 2022.

Surely Shehbaz and co deserve some credit as finally the poor people are getting some relief and economy slowly seems to be getting back on it's feet.

 

[mazkhan]

Pmln are the best party for them Pakistan comes first they made the nuclear bomb.

unlike the others who play regional and ethnofascist policies and have private armed militias and terrorists amongst them.

 

[Extra_Cover]

So Pakistan's inflation has reduced down to 6.9 percent which is a 44 month low. Let me remind posters on here, that 44 months ago Imran was still in power. The PDM didnt come in power till April 2022.

Surely Shehbaz and co deserve some credit as finally the poor people are getting some relief and economy slowly seems to be getting back on it's feet.

Mate are you for real. You are comparing a current year inflation to previous year's inflation rates. You do realise that this 6.9% you have mentioned compared to an additional increase to previous year's rate, I hope you do because this is nothing to celebrate. But if you don't understand the logic then let me try explaining this below.

The below table is simple mathematics and data used is from link below. Assuming the base price reflects and average product like a chair. Also to put things in perspective I have set the base year to 2018 so you can see impact PTI had vs impact PDM had.

Pakistan Inflation

Updated charts and forecasts on Pakistan Inflation (CPI, ann. var. %, aop). Get access to accurate economic data and projections now.

www.focus-economics.com

Year	2018	2019	2020	2021	2022 (PDM Entry)	2023	2024
Inflation rate	5.8%	9.4%	9.5%	9.5%	19.9%	30.8%	6.9%
Base Price	100.00	109.40	119.79	131.17	157.28	205.72	219.91

So based off simple statistics a price of chair when PTI got in power was Rs100 which rose to Rs131.17 during PTI era. The same chair went from Rs131.17 to Rs219.91 in PDM era. I don't see any reason to congratulate Shahbaz Shareef on the above, perhaps you see something which I don't.

Also I'm taking your numbers on the face of it however if I look through a recent Reuters article that apparently mentioned the inflation fell to 9.6% rather than 6.9% (see link below). This is a classic PDM style of manipulation that would have made Ishaq Dar quite proud, simply switch the numbers around and if someone finds out its just a typo. You come across as someone who has great respect for Mr. Dar I presume.

https://www.reuters.com/markets/asia/pakistan-annual-inflation-slows-96-first-single-digit-stat-nearly-3-years-2024-09-02/

As I like to talk about economics and stuff so why shall we not continue here for a little longer. Its important to note that PTI rule endured an era never seen before which included the corona pandemic. So its important to see how the developed and developing economies were doing during this time. You should be pleased that I'm not using data of underdeveloped countries as surely we are fast heading if not there yet already.

Country	2018	2019	2020	2021	2022	2023
Pakistan	5.8%	9.4%	9.5%	9.5%	19.9%	30.8%
India	3.9%	3.7%	6.6%	5.1%	6.7%	5.6%
Bangladesh	5.5%	5.6%	5.7%	5.5%	7.7%	9.9%
South Africa	4.5%	4.1%	3.2%	4.6%	7%	6%
Ukraine	10.9%	7.9%	2.7%	9.4%	20.2%	12.8%
Sri Lanka	2.1%	3.5%	6.2%	7%	49.72%	16.54%

So if we see the table above we should be congratulating Shahbaz Sharif for achieving 20% and 30% inflationary targets in the previous 2 years whilst most of the other economies were operating at circa less than 10%.

A country like Ukraine where an active warfront is open happens to have better economic outlook than Pakistan under the impeccable vision of Shahbaz speed. A country like Sri Lanka where an actual civil war took place and overthrown their regime seems to be better on track than Shahbaz speed.

Yet we need to congratulate the vision of Shahbaz speed.

 

[FearlessRoar]

'Inflation drop was more than we expected': FinMin Aurangzeb​

Finance Minister Muhammad Aurangzeb announced that the country has seen a "sharper-than-expected drop in inflation", with the economy moving towards improvement.

Speaking at the launch of the Pakistan Economic Dashboard on Wednesday, the finance czar highlighted key economic progress and stressed the need for structural reforms to ensure sustainable stability.

During his address, the minister noted that inflation has decreased more than the government had anticipated.

"The inflation rate is falling faster than we expected, which is a positive sign for our economy," he said.

However, he emphasised that continued efforts are needed to maintain this trajectory.

The minister also pointed out that tax filer numbers have increased, and the government aims to further raise the tax-to-GDP ratio.

"We need to focus on increasing our tax base to achieve long-term economic stability," he added.

Aurangzeb spoke highly of Pakistan’s banking sector, describing its current trajectory as one of significant improvement.

He praised the sector for offering greater support to investors and expressed confidence that this trend would continue.

"The banking sector is facilitating investment and creating more opportunities for growth," the minister stated.

He highlighted that improvements in the banking sector would enhance access to financial services for ordinary citizens and help small and medium-sized enterprises (SMEs) gain much-needed financial support.

This, he believes, will play a key role in boosting the overall economy.

The finance minister made it clear that Pakistan’s ongoing programme with the International Monetary Fund (IMF) would be the last, provided the government successfully implements structural reforms.

"The only way to achieve sustainable economic stability is through fundamental reforms," Aurangzeb stressed. He outlined the need for significant changes to ensure Pakistan's economic growth remains on track.

He further emphasised the need to improve the tax-to-GDP ratio and utilise the country's current economic position to drive further stability.

"Our economy is heading in the right direction, and we must capitalise on this momentum by implementing necessary reforms," he added.

'Inflation drop was more than we expected': FinMin Aurangzeb | The Express Tribune

Finance czar praised banking sector for offering support to investors; expressed confidence trend would continue

tribune.com.pk

 

[FearlessRoar]

Federal government begins downsizing daily wage employees under new policy​

The federal government has begun the process of releasing daily wage employees as part of its rightsizing policy.

According to a notification issued by the Establishment Division, the services of daily wage workers have been transferred to the surplus pool as of September 30, 2024, marking the start of a broader downsizing initiative.

The decision is part of the government's long-term plan to streamline operations and reduce the workforce across various ministries and divisions.

The Establishment Division has informed all daily wage employees that their services will no longer be required after September 30.

The notification further clarifies that other ministries and divisions will also be issuing similar notifications to release their daily wage staff in compliance with the rightsizing directive.

Sources within the Ministry of Finance have confirmed that additional departments will follow suit, ensuring that the rightsizing plan is uniformly implemented across the federal government.

This move comes as the government seeks to reduce costs and improve efficiency, though it is likely to impact a significant number of daily wage workers across various sectors.

Federal government begins downsizing daily wage employees under new policy | The Express Tribune

The decision is part of the government's plan to streamline operations and reduce the workforce across ministries.

tribune.com.pk

 

[FearlessRoar]

Pakistan’s weekly inflation jumps to 15.02pc

The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.28 percent for the combined consumption groups during the week ended on October 17, the Pakistan Bureau of Statistics (PBS) reported on Friday.

According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 319.79 points as compared to 318.91 points during the past week.

As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 15.02 per cent.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

Likewise, SPI for the lowest consumption group of up to Rs 17,732 witnessed increase of 0.27 percent and went up to 313.74 points from last week’s 312.91 points.

The SPI for consumption groups of Rs 17,732 to 22,888; Rs 22,889-29,517; Rs 29,518-44,175 and above Rs 44,175, decreased by 0.28 percent, 0.27 percent, 0.28 percent and 0.28 percent respectively.

During the week, out of 51 items, prices of 19 (37.25%) items increased, 09 (17.65%) items decreased and 23 (45.10%) items remained stable.

The items, which recorded major decrease in their average prices on a week-on-week basis included onions (7.02%), bananas (2.83%), gur (1.82%), potatoes (1.15%), pulse mash (0.72%), rice irri-6/9 (0.40%), sugar (0.27%) and rice basmati broken (0.09%).

The commodities which recorded major increase in their average prices on week-on-week basis included tomatoes (26.24%), pulse moong (9.86%), pulse gram (3.15%), wheat flour (2.10%), diesel (2.01%), LPG (1.50%), garlic (1.31%), chicken (0.96%), eggs (0.68%), mustard oil (0.65%) and firewood (0.35%).

On-year basis, the commodities that witnessed a decrease included wheat flour (32.20%), electricity charges for q1 (20.32%), chilies powder (20.00%), diesel (17.05%), petrol (12.77%), cooking oil 5 liter (9.10%), rice basmati broken (8.18%), sugar (7.31%), eggs (6.24%), bread (5.03%), vegetable ghee 2.5 kg (4.93%) and washing soap (1.61%).

The commodities which recorded an increase in their average prices on year-on-year basis included gas charges for q1 (570.00%), pulse gram (80.85%), onions (51.32%), tomatoes (36.81%), chicken (34.53%), pulse moong (33.23%), powdered milk (25.37%), beef (23.62%), shirting (17.05%), cooked daal (14.41%), georgette (13.22%) and ladies sandal (12.52%).

Pakistan's weekly inflation jumps to 15.02pc

ISLAMABAD: The weekly inflation, measured by the Sensitive Price Indicator (SPI), witnessed an increase of 0.28 percent for the combined consumption

arynews.tv

 

[FearlessRoar]

IMF forecasts Pakistan’s inflation rate to fall to 10.6% by 2025​

The International Monetary Fund (IMF) projects that Pakistan’s inflation rate, which dropped from 29% to 12.6% this year, will further decline to 10.6% by 2025, according to IMF’s Director for the Middle East and Central Asia, Jihad Azour.

In a recent statement on Pakistan's economic outlook, Azour remarked that Pakistan's economy is expected to grow at a rate of 3.2% in the 2024-25 fiscal year, an improvement that signals economic recovery.

Azour emphasised that Pakistan's reform package aims to achieve several key objectives, including fiscal stability, increased revenue, and reduced deficits. He highlighted that improvements in tax collection and addressing systemic issues could boost Pakistan’s revenue.

He also noted that reforms within state-owned enterprises remain a priority, which could open more opportunities for the private sector, attract foreign investment, and strengthen Pakistan’s export potential.

The IMF official further explained that creating a favourable environment for additional investment in Pakistan is essential. Current fiscal policies, he said, are helping reduce inflationary pressures and facilitate capital flows, easing the burden on Pakistan's current account.

Azour expressed optimism that these measures would stabilise the economy, mitigate financial risks, and enhance the energy sector.

Moroever, Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps low and middle-income countries mitigate climate risk, Finance Minister Muhammad Aurang told Reuters.

"We have formally requested to be considered for this facility," the minister said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington.

The International Monetary Fund had already agreed to a $7 billion bailout for Pakistan but has further funding available via its Resilience and Sustainability Trust (RST). The RST, created in 2022, provides long-term concessional cash for climate-related spending, such as adaptation and transitioning to cleaner energy.

"We think we are a very good candidate to be considered for a facility like this," Aurangzeb said, adding that they aim to conclude the request in the coming months.

Aurangzeb said they were talking to "a few other institutions" in addition to the AIIB for a credit enhancement. Credit enhancements provide some level of guarantee for bonds, which can boost their rating, attract more investors, and thus cut the government's borrowing costs.

IMF projects lower inflation in Pakistan by next year | The Express Tribune

IMF anticipates 10.6% inflation rate in Pakistan by 2025

tribune.com.pk

 

[FearlessRoar]

Dry fruits, chicken soup prices skyrocket​

As winter is approaching, prices of dry fruits, desi chicken broth and soup have surged in Rawalpindi's open markets. Throughout the city and streets, temporary stalls and carts selling peanuts, roasted black gram, soup and broth have mushroomed.

These kiosks and stalls operate until 2am. Large roadside stalls have also been set up at the city's entrance, offering a selection of dry fruits. Additionally, dry fruit sales have kicked off, with sales of Afghani, Gilgit, Irani and Balochi dry fruits thriving.

Dry fruits have become unaffordable for people this year due to soaring prices. The peanut, one of the popular dry fruits among people of all ages, has hit an all-time high of Rs 800 per kilogram.

New taxes, customs duties and transportation charges have collectively played a role in the surge in dry fruit prices. People at government offices, shops, streets, and in neighbourhoods could be seen snacking on groundnuts, jaggery, and rewari. Many families are now enjoying broth and soup late into the night after sunset.

This season, the vendors are charging Rs160 for plain soup, Rs180 for egg soup, Rs200 for special chicken egg soup, Rs 140 for broth, and Rs180 for a special broth cup. Peanuts are being sold at Rs800 per kilogram, roasted black gram from Rs1,000 to Rs1,200 per kg, pine nut (chilgoza) between Rs16,000 and Rs20,000 per kg, normal walnuts for Rs800 per kg, good quality walnut kagzi for Rs1,200 per kg, mix dry fruit Rs2,850 per kg, roasted cashews at Rs3,650 per kg, and plain cashews for Rs3,400 per kg.

Normal almonds are available at Rs1,400 per kg, kagzi almonds at Rs1,900 per kg, black raisins at Rs1,700 per kg, pistachios at Rs3,400 per kg, nimko mix at Rs950 per kg, sundar khani fruit at Rs1,650 per kg, Afghan apricot at Rs1,750 per kg, rewari at Rs1,000 per kg, while figs are being sold at Rs3,000 per kg.

Vendors Shakir Abbasi and Fayaz Khan claim that withholding tax has increased the cost of dry fruits, while tax levies on dry fruits have also doubled. According to them, wholesale dry fruit sales have dropped 30% this year at the start of the winter season as compared to the previous year. This year, parties have bought 10-15kg dry fruit instead of up to 20kg in wholesale, the dry fruit vendors further say.

Street vendors are selling peanuts and roasted groundnuts between Rs30 and Rs100.

Dry fruits, chicken soup prices skyrocket | The Express Tribune

Dry fruits, chicken soup prices skyrocket

tribune.com.pk

 

[The Bald Eagle]

Pakistan's inflation rate has reached its lowest level in three and a half years, with September's rate recorded at 6.9%, the lowest in 44 months

According to the monthly Economic Outlook report released by the Ministry of Finance, there has been a notable increase in remittances, exports, imports, and foreign investment.

The report also highlights a significant 92.1% reduction in the current account deficit. From July to September, Federal Board of Revenue (FBR) tax collection rose by 25.5%, while non-tax revenue increased by 20.8% over the same three-month period.

The report states that the inflation rate has dropped from 29% to 9.2%, although the production in major industries has decreased by 0.19% over the past two months.

The Ministry of Finance noted that the economy demonstrated stable recovery in the first quarter, bolstered by the disbursement of $1.03 billion from the International Monetary Fund (IMF).

The recent Shanghai Cooperation Organization (SCO) conference also contributed to improved business and market confidence.

Looking ahead, the report suggests that the economy is on a path to sustainable recovery. Remittances have increased by 38.8%, reaching $8.78 billion, while Pakistani exports rose by 7.8% to $7.49 billion.

During the review period, total foreign investment surged by 70.4%, exceeding $900 million, with foreign direct investment rising by 48% to $770 million.

Additionally, the State Bank's foreign exchange reserves increased from $7.61 billion to over $11 billion. The stock market saw an impressive gain of 78.4%, surpassing 90,000 points, and the exchange rate of the dollar decreased from 280.29 to 277.62 Pakistani rupees over the past year.

From July to September, tax revenue grew by 25.5%, totalling PKR 2,563 billion, while non-tax revenue reached PKR 341 billion, a 20.8% increase.

The report indicated that in the initial two months of the period, the fiscal deficit rose by 4.3%, exceeding PKR 841 billion. The current account deficit fell dramatically by 92%, reaching $9.8 million.

Source: The Express Tribune

 

[FearlessRoar]

October inflation edges up to 7.2% as SBP gets ready for rate decision​

Pakistan's annual inflation edged up to 7.2% in October 2024, registering an increase from 6.9% in September but marking a significant decrease from 26.8% in October 2023, data from the Pakistan Bureau of Statistics (PBS) showed on Friday, just days before the central bank’s meeting to decide the key policy rate.

The reading reinforced months of easing inflation — which hit a historic high of 38% last year and was at 26.8% in October 2023 — ahead of a meeting of the country's central bank next week to review the policy rate, which stands at 17.5%.

The increase in the consumer price index (CPI) beats the market as well as government forecasts of 6.8%, bringing the average inflation for the first four months of FY2025 to 8.7%, down from 28.5% in the same period of FY2024.

On a monthly basis, the CPI increased 1.2% in October, reversing from a 0.5% decline in September and up from a 1.0% increase in October 2023.

Core inflation, excluding food and energy, increased by 9.8% year-on-year in October, slightly lower than September’s 10.4% rise and well below the 21.8% recorded a year earlier.

Month-on-month, core CPI edged up 0.6% in October, compared to a 0.3% increase in September and a 1.1% rise in October 2023.

Ministry of Finance in its monthly economic outlook released on Wednesday projected the inflation to hover around 6-7% in October and was optimistic that it would fall as low as 5.5–6.5% in November 2024.

Economic recovery will take advantage of declining inflation and the continuation of fiscal consolidation in the coming months, the report added.

Anticipating a slight monthly increase, Topline Securities earlier this month forecast that the inflation would continue to lose steam into October.

The brokerage expected the CPI for October to rise between 6.5% and 7.0% year-on-year, with a marginal 0.9% increase month-on-month, which would bring the average inflation for the first four months of FY25 to 8.6%, down sharply from 28.5% in the same period last year.

Inflation poses significant challenges to the economy, peaking at a record 38% in May last year before gradually retreating.

The trend has continued with September’s CPI at 6.9% year-on-year, down from 9.6% in August, marking the lowest inflation rate since January 2021, according to Pakistan Bureau of Statistics (PBS) data.

Topline analysts also noted that with inflation in the range of 6.5-7.0% in October, Pakistan’s real rates are set to reach 1,050 to 1,100 basis points above inflation, a sizable increase compared to the historic average of 200-300 basis points, which could lead the central bank to tighten its monetary policy regime.

Meanwhile, Finance Minister Muhammad Aurangzeb in an interview with Reuters said, "The International Monetary Fund (IMF) has lowered its inflation forecast for Pakistan for the current year to 9.5%."

According to Aurangzeb, the IMF’s revised projection brings it closer to Pakistan’s own projections.

“The IMF also revised down its import projections for Pakistan in the current fiscal year to $57.2 billion,” the finance minister added.

Inflation up at 7.2% in Oct as SBP gets ready for policy rate decision

Pakistan's annual inflation edged up to 7.2% in October 2024, registering an increase from 6.9% in September but marking a significant decrease from 26.8% in October 2023, data from the Pakistan...

www.thenews.com.pk

 

[The Bald Eagle]

In a major blow to household budgets, prices of cooking oil and ghee have risen sharply in November 2024, with a hike of up to Rs60 per kilogram in the open market

The increase comes even as the country recently recorded a slight decline in its inflation rate.

According to market reports, the price of first-grade ghee and cooking oil has surged by Rs54 per kg, while the rates for second and third-grade varieties have spiked by Rs60 per kg.

This steep rise has pushed the retail price of first-grade ghee and oil from Rs505 to Rs559 per kg, leaving consumers grappling with soaring costs.

The price for second-grade ghee, which was previously set at Rs440 per kg, has now jumped to Rs500. Meanwhile, the retail prices for ghee in general have reached between Rs525 and Rs530 per kg, depending on the area.

Additionally, the price of second-grade oil, formerly priced at Rs452 per litre, has surged to Rs512, with some vendors reportedly selling it between Rs530 and Rs540 per litre.

In a contrasting move, the Utility Stores Corporation (USC) last week announced a Rs13 per kg reduction in sugar prices at utility stores across the country, dropping it from Rs153 to Rs140 per kg.

Source: Samaa News

 

[FearlessRoar]

Inflation seen slowing to 5.8-6.8% in November, finance ministry says

Inflation is projected to slow to 5.8%-6.8% in November, and then further to 5.6%-6.5% in December, the finance ministry said in its monthly economic report on Wednesday.

“Inflation is expected ... [to] further recede to 5.6% - 6.5% by December 2024,” said the Finance Division in its Monthly Economic Update and Outlook.

The central bank slashed interest rates by 250 basis points earlier in November in a bid to revive a sluggish economy amid a big drop in the rate of inflation.

According to Pakistan Bureau of Statistics (PBS) data, inflation sharply dropped to 7.2% in October from a multi-decade high of nearly 40% in May 2023, while it was slightly higher than 6.9% in September 2024.

“On the agriculture front, wheat crop sowing is in progress to achieve the targeted area and production. The government facilitations are well intact regarding the timely provision of key inputs to the farmers at reasonable prices,” according to the report.

It said the large-scale manufacturing (LSM) sector seems to be struggling to rebound.

Although year-on-year growth remained negative, the month-on-month performance showed signs of resilience, with gradual production increases in key sectors such as textile and automobiles.

The finance division said it was adamant about extending its policy support to the sector, adding that external stability would prove a springboard for sustained improvement, hinting at a cautiously optimistic outlook for progressive recovery.

The report also highlighted that the current account posted a surplus during the first four months of FY2025, strengthening the external sector.

“For the outlook, it is anticipated that exports, imports, and worker’s remittances will continue to observe their increasing trend - exports will remain within a range of $2.5-3.0 billion, imports $4.5-4.9 billion, and worker’s remittances $2.8-3.3 billion in November 2024,” according to the monthly economic outlook.

Inflation seen slowing to 5.8-6.8% in November, finance ministry says

Inflation is projected to slow to 5.8%-6.8% in November, and then further to 5.6%-6.5% in December, the finance ministry said in its monthly economic report on Wednesday.“Inflation is expected ... further recede to 5.6% - 6.5% by...

www.geo.tv

 

[FearlessRoar]

Pakistan’s weekly inflation down by 0.34%

The weekly inflation, measured by the Sensitive Price Indicator (SPI), decelerated to 3.57 percent on year-on-year (YoY) basis during the week ended on December 05 as compared to corresponding week of last year, the Pakistan Bureau of Statistics (PBS) reported on Friday.

On Week-on-Week basis, the inflation, witnessed a decrease of 0.34 percent for the combined consumption groups during the week under review as compared to the last week as it was recorded at 322.91 points as compared to 324.00 points respectively.

The weekly SPI with the base year 2015-16 =100 covers 17 urban centres and 51 essential items for all expenditure groups.

SPI for the lowest consumption group of up to Rs 17,732 witnessed decrease of 0.44 per cent and went down to 317.20 points from last week’s 318.60 points.

The SPI for consumption groups from Rs 17,732 to 22,888; Rs 22,889-29,517; Rs 29,518-44,175 and above Rs 44,175 decreased by 0.45 percent, 0.39 percent, 0.38 percent and 0.28 percent respectively.

During the week, out of 51 items, prices of 18 (35.29%) items increased, 10 (19.61%) items decreased and 23 (45.10%) items remained stable.

The items, which recorded major decrease in their average prices on a week-on-week basis included tomatoes (25.15%), chicken (9.90%), pulse mash (1.67%), pulse gram (0.73%), wheat flour (0.71%), pulse masoor (0.46%), rice basmati broken & rice irri-6/9 (0.37%) each and LPG (0.19%).

The commodities which recorded major increase in their average prices on week-on-week basis included garlic (1.83%), vegetable ghee 2.5kg (1.72%), potatoes (1.69%), petrol (1.48%), sugar (1.33%), diesel (1.27%), onions (1.10%), vegetable ghee 1kg (1.07%), cooking oil 5 litre (0.99%), bananas (0.48%), firewood (0.14%) and cigarettes (0.09%)

On year-on-year basis, the commodities that witnessed decrease included wheat flour (35.40%), chilies powder (20.00%), diesel (10.77%), petrol (10.33%), pulse masoor (9.66%), rice basmati broken (7.86%), tea packet (7.53%), chicken (7.34%), electricity charges for Q1 (6.96%), bread (5.99%) and onions (4.55%).

The commodities which recorded an increase in their average prices on year-on-year basis included ladies sandal (75.09%), pulse gram (65.64%), pulse moong (37.83%), powdered milk (25.74%), beef (23.77%), tomatoes (17.93%), garlic (17.44%), potatoes (17.31%), gas charges for Q1 ( 15.52%), shirting (15.03%), cooked daal (15.02%) and georgette (13.07%).

Pakistan's weekly inflation down by 0.34%

ISLAMABAD: The weekly inflation, measured by the Sensitive Price Indicator (SPI), decelerated to 3.57 percent on year-on-year (YoY) basis during the week

arynews.tv

 

[big_gamer007]

Well it’s evident the Pakistanis themselves don’t care about inflation, they are more interested in why Hindus don’t like Muslims as is evident from this thread having 50 posts compared to 2000+ on the other India/Hindu related threads.

 

[FearlessRoar]

IMF programmes led to price hikes in Pakistan, NA told

The Pakistan Bureau of Statistics (PBS) in its report submitted to the National Assembly maintained that the federal government raised the gas rate by 319 percent in February 2024 and by 520 percent in November 2023.

Similarly, electricity prices were raised by 35 percent in November 2023 and 75 percent in February 2024. According to the report, the total increase in inflation has been exacerbated by the historically high rates of gas and electricity.

Meanwhile, the prices of essential commodities have increased significantly over the past five years. It added that the price of sugar increased by 53.5 percent, while palm oil prices have risen by 61percent during the same period.

Furthermore, the prices of soybean oil, wheat, and crude oil have increased by 35percent over the past five years.

Earlier on December 6, Pakistan’s Ministry of Finance unveiled ambitious plans to further control the price hikes and bringing down the country’s inflation rate to 7 percent by 2027.

According to the ministry’s report, the inflation rate is expected to decrease over the next three years.

The report projects that the inflation rate will decrease from 23.4 to 12 percent in 2025, and then further to 7.5 percent in 2026. By 2027, the inflation rate is expected to be reduced to 7 percent.

In addition to reducing inflation, the ministry also projects that the country’s economic growth rate will increase from 3.6 to 5.5 percent over the next three years. The primary balance is expected to improve from 1.02 to 0.5 percent of the economy.

IMF programmes led to price hikes in Pakistan, NA told

ISLAMABAD: The National Assembly on Wednesday was informed that the prices of electricity and gas have increased due to the International Monetary Fund

arynews.tv