Asad Omar ruled out inflation and the possibility of a reduction in prices

 
Even before the meeting on inflation and national economy chaired by the Prime Minister, Federal Minister for Planning and Development Asad Umar has ruled out the possibility of reduction in inflation, while official sources were quoted as saying that a high-level meeting was convened today under the chairmanship of Prime Minister Imran Khan. In which measures will be approved to provide relief to the people and control inflation.

Addressing a press conference in Islamabad, Federal Minister Asad Umar said that there is no possibility of reduction in prices of other commodities and inflation in the next few months. He said that the recent rise in inflation is not a domestic but a global problem in Pakistan. Smart Lockdown did not raise prices as much as non-Smart Lockdown in other countries.

He said the rise in global market prices was due to the gap between supply and demand and the corona disruption in the remittance system affecting all sectors. Inflation is where the rate of inflation could never have been imagined so much. Referring to World Bank data, Asad Umar said that the price of crude petrol has increased by 81.55 per cent in the last 12 months while in Pakistan it has increased by 17.55 per cent in the same period.

He said that the prices of LNG and gas increased by 135%. There was no change in the prices of natural gas in Pakistan while the price of LNG increased by 64%. The price of edible oil in the world market increased by 48% while in Pakistan it increased by 38%, the price of sugar in the local market increased by 15% and globally by 53%.

Referring to India, he said that petrol prices in New Delhi are much higher than in Pakistan and the prices of other essential commodities are also very high. He said that GST on petrol was 17% in November last year and our PDL was Rs. 30 per liter.

He said that GST on petrol and diesel has been reduced from 17% to 6.8% and 10.3% respectively. Regarding the price of flour, the Federal Minister for Planning said that Punjab and Sindh are producing more than required. There is a difference of Rs 290 on 20 kg bags sold inside. He urged the Sindh government to release wheat so that the price of flour in Sindh would come down significantly. He said that the details of "targeted subsidy" would be revealed in the next few days. Prime Minister Imran Khan will express this. He said that this relief will be available by the end of November.

Asad Omar, citing unnamed experts, said March would see a dramatic drop in commodity prices. The federal planning minister dismissed the notion that inflation would ease in the next few months. He said that the prices of essential commodities would not come down in the next one or two months but the people are expected to get relief from inflation from March. There is a difference of three and a half percent compared.