Adviser to Prime Minister Shaukat Tarin on Friday tried to lift the dying spirits of inflation-hit people when he asked them not to lose patience since only three to four months were difficult now, reported 24NewsHD TV channel.

Addressing a press conference, he claimed that the country’s economy was heading in a right direction. “The government is trying to provide relief to the common man. Don’t worry, prices will come down,” he assured.

He further claimed that there was less inflation this year compared to the last year, and the items whose prices had soared were all imported items.

Emphasizing that he wanted to set the record straight, Tarin said prices of petroleum products and steel had gone up during the last one year. “Similarly, hike by three to four per cent has been noticed in the prices of food items,” he said, adding the imports of raw material increased by $252 million; that of oil and coal by $508 million, and that additional coronavirus vaccine was purchased for $400 million. “The difference of $1.4 billion between imports and exports is precisely due to these factors,” the adviser to the PM pointed out.  

https://www.youtube.com/watch?v=ufd8edcdtTk

He said imports of food items had increased. However, he said the good thing was that the LNG prices would drop in near future.

Tarin claimed that the country’s revenues had gone up by 36 per cent.

He admitted there existed anxiety in the market on account of three stories that inflation in the country had reached 11.5 per cent, imports stood at $7.7 billion and that the trade deficit had further increased.   

Tarin said the State Bank of Pakistan (SBP) had announced that it would announce the monetary policy in one and half months. “It is possible that the bank may announce the policy within one month,” he added.

Speaking on the occasion, Abdul Razzak Dawood, adviser to the PM on Commerce and Investment, also said there was no need to panic.

He said he had conveyed to the nation last year that tough times would follow the deal to be struck with the International Monetary Fund (IMF).