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*ISLAMABAD: Finance Minister Miftah Ismail has said that the inflation rateis likely to go up due to floods in Pakistan and the government willrestrict its expenditures keeping in view limited resources.*
While talking to Bloomberglink,Miftah Ismail predicted that the inflation rate will be 15 per cent in thecurrent fiscal year, whereas, it was inevitable to ban imports of luxuryitems for a long time.
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The finance minister said that the nation will have to keep in view thelimited resources. He suggested that the nation will have to change its oldways to restrict expenditures.
“If I have a limited amount of US dollars, then I have to make sure toutilise it for procuring wheat.”
Ismail said that the vegetable prices were being restored to the previousones which were hiked during the peak time of the floods. He added thatPakistan is also importing vegetables from neighbouring countries.
“I want to see a Pakistan that lives within its means. That’s it,” Ismail,57, told Bloomberg News. “Nothing can happen in one year, but we can start.”
