Wednesday July 01, 2009
ISLAMABAD: Minister of State for Finance and Economic Affairs Hina Rabbani Khar on Tuesday assured the National Assembly of bringing the inflation down to single digit from the current 14 percent during July. The minister was speaking on a calling attention notice moved by lawmakers in the Lower House of the Parliament expressing concern over the skyrocketing inflation in the country and the government's failure to bring it down.
Rabbani said the government is well aware of inflation and was taking various steps to bring it down. Due to the government strategy, the inflation has been brought down from 25 percent to 14 percent and it would be further bought to single digit in July.
She said the federal government is in constant touch with provincial governments to arrest the upward trend of the prices of the consumer goods. The minister said giving subsidy on petroleum has never been the right policy since Pakistan did not produce petroleum and its related products.
Commenting on the levy of carbon surcharge on petrol, she said it would be helpful in discouraging people from using petroleum and switch to alternate energy resources, ultimately increasing the usage of environment friendly fuel. The minister also mentioned that prices of a number of kitchen items had already reduced including cooking oil, Basmati rice, etc.
About rise of sugar prices, the minister informed the House that the ECC has taken note of rise in the price of sugar. The minister said this year Pakistani farmers have been paid Rs 290 billion for purchase of wheat crop by the government. Replying to a question about non-transfer of impact of oil price reduction by the PIA and Pakistan Railways, she said these two institutions were already in losses. These organisations, she said, are not earning any profit and the government has to give them subsidy.
(BRecorder)
ISLAMABAD: Minister of State for Finance and Economic Affairs Hina Rabbani Khar on Tuesday assured the National Assembly of bringing the inflation down to single digit from the current 14 percent during July. The minister was speaking on a calling attention notice moved by lawmakers in the Lower House of the Parliament expressing concern over the skyrocketing inflation in the country and the government's failure to bring it down.
Rabbani said the government is well aware of inflation and was taking various steps to bring it down. Due to the government strategy, the inflation has been brought down from 25 percent to 14 percent and it would be further bought to single digit in July.
She said the federal government is in constant touch with provincial governments to arrest the upward trend of the prices of the consumer goods. The minister said giving subsidy on petroleum has never been the right policy since Pakistan did not produce petroleum and its related products.
Commenting on the levy of carbon surcharge on petrol, she said it would be helpful in discouraging people from using petroleum and switch to alternate energy resources, ultimately increasing the usage of environment friendly fuel. The minister also mentioned that prices of a number of kitchen items had already reduced including cooking oil, Basmati rice, etc.
About rise of sugar prices, the minister informed the House that the ECC has taken note of rise in the price of sugar. The minister said this year Pakistani farmers have been paid Rs 290 billion for purchase of wheat crop by the government. Replying to a question about non-transfer of impact of oil price reduction by the PIA and Pakistan Railways, she said these two institutions were already in losses. These organisations, she said, are not earning any profit and the government has to give them subsidy.
(BRecorder)
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