Federal Finance Minister Shaukat Tarin, has said that inflation has occurred not only in Pakistan but around the world. He announced cash based subsidy for flour, ghee, sugar and pulses to lessen the impact of inflationary burden from the masses.
Shaukat Tarin, during a press conference with other federal ministers in Islamabad, said that the prices of basic necessities around the world have risen due to Corona. He said that International Sugar prices have surged to 430 per ton.
The finance minister said the agricultural sector has been neglected in the past and farmers have suffered losses. We need to increase agricultural production, from farmers to retailers who set prices. In this regard, we have collected data from the Ehsas program, in which we will provide targeted support services. In the months before we introduced targeted subsidies for gas and electricity, we now provided cash subsidies for flour, ghee, sugar, and legumes. The price of flour will go down in the coming days.
Shaukat Tarin said the country’s economy is improving and the rupee has depreciated due to the move to the IMF. As the economy grows, so does debt. As a result of the depreciation of the rupee, the debt has increased. Now the debt has reached 39.9 billion rupees. These loans amounted to Rs 25.290 billion in 2018 and Rs. GDP amounted to 85.7%, and in 2021 – 81.1%.
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