PM Shehbaz Lauds Inflation Reduction, Promises Economic Stability

Prime Minister Shehbaz Sharif on Sunday expressed satisfaction with the drop in Pakistan’s inflation rate, highlighting the government’s ongoing economic reforms. The Pakistan Bureau of Statistics reported that the Consumer Price Index fell to a record low of 11 percent in July 2024.

The prime minister also welcomed forecasts of further inflation declines in September, as noted by economists. He emphasized the positive outlook from global rating agencies, with both Fitch and Moody’s recently upgrading Pakistan’s credit rating due to improving economic indicators.

The prime minister stated that the government is committed to implementing economic reforms, with a focus on right-sizing policies. He assured the public that these efforts would soon have a visible positive impact on the economy.

Additionally, the prime minister acknowledged the relief measures provided by the federal and Punjab governments to electricity consumers, along with recent reductions in petroleum prices. He affirmed the government’s dedication to ensuring that the benefits of these policies reach the common man.

PM Shehbaz added that the government remains aware of the public’s challenges and is working diligently to address them, signaling continued efforts towards economic stability.