ISLAMABAD, Sep 2 (APP): Prime Minister Muhammad Shehbaz Sharif on Monday expressed satisfaction over the single-digit inflation rate of 9.6 percent in August 2024, as reported by the Pakistan Bureau of Statistics (PBS), attributing this achievement to the hard work of the government’s economic team.
The prime minister noted that this decrease in inflation is a reflection of the government’s effective measures to improve the economy. He credited the economic team for achieving the lowest inflation rate in the last three years, said a press release issued by Prime Minister’s Office.
According to the Ministry of Finance’s Economic Outlook Report, the inflation rate was predicted to be between 9.5 percent and 10.5 percent in August 2024. Economic experts also forecast a further decrease in inflation in September, which the prime minister hailed as good news for the nation.
In 2018, the inflation rate was also brought down to a single digit, but the subsequent years saw a record increase in inflation due to criminal negligence and anti-people policies.
The prime minister emphasized that his government has saved the country from economic bankruptcy and put it on the path to stability and growth.
He reiterated his commitment to fulfilling his promise to the people to alleviate their sufferings.
The prime minister acknowledged Allah’s blessings in achieving this milestone and noted that the positive results of government economic reforms are now reaching the people, improving their lives and contributing to Pakistan’s development.
Achieving Pakistan’s development goals is unattainable without improving the lives of ordinary people and ensuring economic prosperity, PM concluded.