The Federal Minister of Finance, Shaukat Tarin, stated that the government is paying a monthly subsidy of Rs. 104 billion to maintain petrol prices at Rs. 150 per liter.
He added that the actual rate is Rs. 240 per liter as per the current international price.
Minister Tarin spoke at the seminar ‘Revival of Pakistan Economy and Outlook in 2022’ by Nazaria Pakistan Trust on Friday and said,
We are expecting an economic growth rate over five percent this year and inflation will hover in the range of eight to 10 percent. The year 2022 will be the year of growth and we are on the path of sustainable growth.
He also predicted that inflation will decrease in the coming months but mentioned that he considers the super-cycle of inflation problematic for the government as commodity prices have doubled worldwide to negatively impact the urban lower-middle, middle, and salaried strata of society.
“If this prolongs, it will further affect the public,” he warned.
Regarding foreign exchange reserves, Minister Tarin stated Pakistan had enough reserves to pay import costs for four months as compared to when it only had enough for one month when the PTI-led government had assumed power.
Via Brecorder
