Inflation in country due to IMF programme, says Tarin
Minister for Finance Shaukat Tarin on Wednesday admitted that it was unfair to levy taxes on the people already paying taxes, reported 24NewsHD TV channel.
Addressing a press conference in Islamabad, he said that inflation had increased in the country because of the International Monetary Fund (IMF) programme.
“Apart from that, the supply of goods also suffered a setback due to the Covid-19,” he said, adding even logistics had an impact on different items’ prices.
The minister said that direct subsidy would be provided to the poor people on food items, while 40 million people would be provided subsidy on cash.
He told the media that the CCP would take action against those people making cartels and that the system of food control inspectors would be revived.
Tarin said efforts were being made to increase the income of people belonging to the lower strata of society. “‘Kamyab Pakistan Programme’ will help alleviate the sufferings of ordinary people,” he hoped.
Listing the reasons for the increase in the US dollar rate, he said the rate had increased due to a hike in oil prices in the world and due to the import of cars.
He said exporters started depositing their money in foreign banks when they felt that the country’s economy was going downhill.
Tarin further said that the government would make efforts to boost agricultural production.
He claimed that improvement had been witnessed in the power sector and that the country’s circular debt had also reduced.