Controlling inflation govt’s top priority , Masadik Malik
— June 1, 2024
ISLAMABAD (AIA) Minister for Petroleum Division Dr. Musadik Masood Malik on Saturday said that controlling inflation and providing employment opportunities to the people were the government’s top priorities. Addressing a press conference, he said that on the directives of the prime minister, maximum relief was being ensured to the masses, and inflation was witnessing a gradual decrease. The premier directed all the ministers to serve the people and reduce their burden by controlling inflation and creating job opportunities.
Malik cited factors like floods, natural calamities, and conflicts in the Middle East and Ukraine for increasing the commodity cycle. However, he said, owing to the efforts of the incumbent government and targets set by the Prime Minister, the ratio of the Consumer Price Index (CPI) has decreased from 37% to 17%. Similarly, food inflation has dropped from 40% to 11.5%, indicating a move towards stability, he added. Petroleum prices have been slashed, providing around Rs 25–26 per litre of relief on petrol within a month. Malik expressed hope that inflation would continue to decline.
Tractors’ purchases have also registered a 50% increase, while urea production recorded a 17% jump in the last year, he added. The upcoming budget would be balanced and relief-oriented, with a 30% increase in tax collection. The country’s exports have increased while imports have decreased. He promised that the budget would also offer more incentives for small businesses and IT sectors.
Responding to a question, Malik said the PML-N government had set up power plants to generate electricity at affordable rates and always prioritised the state over personal politics. He emphasised that there were always doors open in politics, with his party leadership always calling for reconciliation and dialogue. The PML-N leadership has always stressed the need for a charter of economics and democracy.