Finance Minister Miftah Ismail Sunday said that he wants to see a Pakistan that lives within its means.
In an interview with Bloomberg, the finance minister said that import payments should equal dollar inflows and measures to curb luxury imports will remain in place.
The minister expects the country’s economic growth to be over 3.5% during the current fiscal year, down from the initial target of 5 percent. He also expects inflation to average 15 percent for the year. Pakistan currently has the second high inflation in Asia, at 47 percent.
The finance minister also claimed in the interview that prices of vegetables have already started coming down after a massive rise in the aftermath of the devastating floods.
The minister was categorical about stopping luxury imports at all costs and said, “If I have limited dollars, I will absolutely make sure that I use them to buy wheat, I use them to buy edible things for our people.”
“Maybe we can delay buying Audis and Mercedes,” the minister added.
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that group should also include politicians…