PM Imran lauds govt's performance, vows to further bring down inflation

Good to see cabinet decisions starting to bear fruit, says Imran Khan

Prime Minister Imran Khan has expressed satisfaction over the federal government's decisions to control the rising inflation in the country and vowed to take more steps to further bring down the prices of commodities to provide relief to the masses.

Pakistan's consumer price inflation (CPI) slowed to 12.4 per cent in February from the same month a year earlier, the Pakistan Bureau of Statistics (PBS) said on Monday.

In January, the inflation index had jumped to the nine-year high of 14.6pc, which had panicked the policymakers.

In a tweet from his official handle, the prime minister appreciated the federal cabinet's decision of providing Rs10 billion subsidy to Utility Store Corporation in January for the provision of edible items of daily use to the people at affordable rates.



"Good to see cabinet decisions to reduce inflation, including subsidy on products through Utility Stores, starting to bear fruit. Inflation rate for February shows decline by more than 2% versus January. We will continue pursuing measures to bring down inflation and reduce burden on citizens," he wrote in a tweet on Monday.

Good to see Cabinet decisions to reduce inflation, incl subsidy on products through Utility Stores, starting to bear fruit. Inflation rate for Feb shows decline by more than 2% versus Jan. We will continue pursuing measures to bring down inflation & reduce burden on citizens

— Imran Khan (@ImranKhanPTI) March 2, 2020

In February, prices of the majority of perishable food items reduced as compared to January, which pulled the index down. There was also no increase in electricity prices on account of monthly fuel price adjustment in February, which also positively impacted the index.

But the core inflation, which is calculated by excluding food and energy items, has gone up both in urban and rural areas. The core inflation in urban areas increased from 7.9pc to 8pc and from 9pc to 9.4pc in rural areas.