ISLAMABAD – *Federal Minister Asad Umar reveals upcoming good news for thepublic on economic front.*
Federal minister for planning, development and reform Asad Umar said thatinflation which is the biggest problem for public would be brought undercontrol in coming days.
“It is true that rising inflation is the biggest concern for a Pakistanithese days, which is why Prime Minister’s top priority is to improve theeconomic situation,” said Umar, while talking to a private news channel.Meanwhile, the economic growth has slowed down as well, said the formerfinance minister.
Asad further said that both rising inflation and slow economic growth werea result of the macroeconomic stabilization program adopted by thegovernment to get out of the economic crisis. “Now we need to see whetherwe are reaping the benefits from the difficult decisions taken earlier ornot,” he said.
Speaking about the economic indicators, Umar said that our current accounthas witnessed a surplus, which is a positive thing because it will generatespace in our policy that would be beneficial for the public.
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“Our exchange rate has been stabilized; the rising rate of dollar was amajor reason behind inflation increase that has been stabilized. Similarly,the government has stopped printing currency notes, all these things wouldlead to a decline in inflation in coming days,” he said.
The country’s current account turned positive with $ 99 million surplus inOctober 2019 supported by significant import compression and slight growthin exports. The current account balance has turned positive after a gap ofthree-and-a-half years as previously it was $ 157 million surplus inFebruary 2016.
Former finance minister Asad Umar returned to the federal cabinet onTuesday after taking oath as federal minister for planning, development andreform. Meanwhile, Khusro Bukhtiar has now been given charge of Ministry ofNational Food Security and Research. Earlier, Sahibzada Meboob Sultan washandling the Ministry of National Food Security and Research who has nowbeen made federal minister for SAFRON.
