PM expresses satisfaction over reduction in inflation rate

Prime Minister Muhammad Shehbaz Sharif has said the government is pursuing a policy of economic reforms and the implementation process is underway regarding right-sizing policy of the government In a statement today, the Prime Minister expressed satisfaction over the nose-diving of inflation rate in the country and the indicators of Pakistan Bureau of Statistics, showing a decline in the inflation rate. The Prime Minister said prudent policies and hard work done by government team have steered country's economy towards stability. He said that 'Consumer Price Index' fell to record low in July 2024, bringing inflation to 11 percent and welcomed the economists' forecast of further decline in inflation in the current month of September. He said after Fitch, the global rating agency, Moody's recently upgraded Pakistan's credit rating, which is an acknowledgement of country's positive economic indicators by the international financial institutions. He expressed the confidence that its positive impact on the ec onomy would be visible soon. The prime minister also acknowledged that the federal and Punjab governments provided a big relief to the electricity consumers in respect of monthly bills and the prices of petroleum products have also been reduced from today. Source: Radio Pakistan