PM Imran issues orders to control inflation, summons all chief ministers for consultation
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Prime Minister Imran Khan has ordered concerned authorities to take steps to control the prices of basic food items, the government's chief spokesperson Firdous Ashiq Awan announced in a post-cabinet meeting news briefing on Monday.
Awan, the special assistant to the prime minister (SAPM) on information, said that the premier also called the chief ministers of all four provinces for a meeting on Friday to devise a strategy to control inflation, which surged by 11.4 per cent year-on-year in September.
She said that the cabinet members decided that the price committees of provinces will be activated and the elements responsible for fluctuation of prices and hoarding will be dealt with strictly.
The prime minister also directed officials to maintain the prices of life-saving medicines. The participants of the meeting were told that a summary was being moved to reduce the prices of 89 medicines.
The federal cabinet in today's meeting approved the decisions taken by the Economic Coordination Committee (ECC).
According to Awan, Prime Minister Imran during the meeting took the cabinet members into confidence over his recent visits to China and Iran. He apprised the cabinet of his efforts to facilitate better relations between the Kingdom of Saudi Arabia and Iran.
Among other issues that were on agenda for today's meeting, the cabinet members were told that the government's Evacuee Trust Property Board (ETPB) has recovered 1,262 acres of land during the past year.
The cabinet also approved the appointment of board members under the Health Care Act as well as the Real Estate Regulatory Authority Ordinance, she said.
The participants of the meeting approved a master plan for Islamabad and a reorganisation plan of the Capital Development Authority.
The SAPM said that the cabinet members also approved the policy regarding Langar Khanas. Under the policy, the programme will be run under a public-private partnership to extend its scope.
The cabinet suspended the matters of six other ordinances during today's meeting.
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Oct 14, 2019 08:41pm
If only inflation could be controlled by merely issuing an order!
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Oct 14, 2019 08:46pm
Well done, hope prices will come down by tomorrow, you are teaching economists a big lessons,
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Oct 14, 2019 08:49pm
PMIK should have ordered this a few months ago. Then so many people need not have suffered needlessly.
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Oct 14, 2019 08:51pm
He issued an order!! Hope that should do it! What a mockery of the grave situation!
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Oct 14, 2019 09:01pm
Its very good that our premier, is aware for inflation, its duty of the govt, to remain vigilent on the issue of lower class , pakistan is poor country,, policies should made for low class of pakistanis,
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Oct 14, 2019 09:02pm
Do action rather than taking.
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Oct 14, 2019 09:03pm
That's just the beginning of the downhill spiral the govt. is going to experience, PTI-let govt. not only stood dismally defeated to come up on the most cherished expectations of the people before election but also brought a disastrous stint for already suffering class. The matter of inflation is just a one out of many issues the govt remained failed and oblivious about, if one has to visit any street ask a regular vendor about his daily life, the most obvious agonizing outcry will be that their life was a bit good before "Imran khan took over the govt." but now. This is just another period of wood-less existence for many a people but the masses have clearly observed the difference yet they are silent which is an open secret itself.
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Oct 14, 2019 09:07pm
Good
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Oct 14, 2019 09:19pm
Modern day King Canute! Can you stop inflation by decree?
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Oct 14, 2019 09:22pm
@SHAHID SATTAR , That's all he can do.
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Oct 14, 2019 09:23pm
The awam requires more than just giving orders to take steps to control inflation. IK, being the CEO, should invariably take steps in this regard. Opening of langars is not a prudent solution. Instead of giving a hungry man a fish, the more appropriate action would be to teach him how to fish.
R.S. Menon, Gurgaon
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Oct 14, 2019 09:23pm
Good morning Mr IK
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Oct 14, 2019 09:24pm
YOU are responsible for inflation, because of devaluation, excessive taxation and bureaucratic obstacles in doing of business .
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Oct 14, 2019 09:27pm
From where has he issued the orders
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Oct 14, 2019 09:28pm
If you want to control inflation and other problems. You should control NAB. Better you should contact with Mr. Nawaz for advice. He knows very well. Then all the problems will solve within short time.
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Oct 14, 2019 09:36pm
He does not even know Econ 101. Inflation is caused by the national debt, demand-pull and cost push effects and most important exchange rate. Pakistani is net importer of stuff so exchange rate matters most. You ca not artificially impose price controls because traders will stop selling the goods and there will be more inflation. I wish he had better economical advisors.
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Oct 14, 2019 09:43pm
consider it done!
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Oct 14, 2019 09:49pm
PM Imran issues orders to control inflation. To dream the impossible dream. He really believes it is that easy to make inflation go away!
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Oct 14, 2019 09:56pm
Hats off to the great people of Pakistan for their patience and silence. Had it been in India, the outcome would have been something different.
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Oct 14, 2019 09:59pm
Leadership (as always) from Khan...
Gordon D. Walker
Canada
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Oct 14, 2019 10:01pm
CPI (Consumer price index) is not the sole indicator or component of inflation. Amazing that even the government does not know the definition of inflation. The term inflation refers to excessive money supply and availability of spending cash with the consumers. Such is not the case in Pakistan because spending power has decreased in real terms whereas the prices of food and consumable have gone up while prices in Realestate have actually fallen downwards. SBP needlessly increased the interest rate which needs to be rationalized. Price is a market function based on supply & demand and not that of the government. If the government desires lower prices of food items, then it would need to reduce tax on inputs such as electricity, fuel etc. Is the government in a position to do so without reducing its own expenses?
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Oct 14, 2019 10:12pm
What options does inflation have when the all powerful PM orders it to go down?
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Oct 14, 2019 10:13pm
How can inflation be controlled by giving an order? Quite incredible!
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Oct 14, 2019 10:15pm
Please issue an order to end poverty, illiteracy, health problems and above all polio immediately also.
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Oct 14, 2019 10:16pm
Lets be realistic here, the government will not be able to have any control on prices when it comes to those Jumma bazaars, Sunday bazaars, those cart guys selling in the neighborhoods and on the streets, and there are thousands of them. Most of all those guys, including majority of the little stores, aren't even in the tax bracket, they charge at will. Why,? Because they are hurting too from the value of Rupee
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Oct 14, 2019 10:21pm
IK will develop a new economic theory. A Nobel prize awaits him.
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Oct 14, 2019 10:32pm
on average Rs 300 are up on every item per person per month and that makes Rs 9000 increase on 30 items per month: Imagine how frustrated can be an ordinary household budget, and there is no price control mechanism or authority in Sindh at least. this makes an ordinary man life hell more difficult although all classes are excepted at equal measures
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Oct 14, 2019 10:35pm
I am with our leader Khan. He is doing everything so that the economy will be recovered from the disaster created by PMLN.
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Oct 14, 2019 10:35pm
@SHAHID SATTAR , He did not only issued order but also ordered to take action. Do you want him to personally deal with this? Do not forget we can also participate in this effort just stop buying those things which has become out of reach. You should know that prices of many items in the market has been artificially inflated in the garb of increase in taxes. some items that should have gone up by 10% are now being sold upward by 40-50%.
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Oct 14, 2019 10:37pm
Khan sb. pls keep a tight control on the prices of following: Flour, Rice, Lentils and Vegetables...and no one will even think of destabilizing your Government...InShaAllah
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Oct 14, 2019 10:38pm
Sell some more buffaloes
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Oct 14, 2019 10:39pm
IK should change the current system, it needs complete overhaul.
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Oct 14, 2019 10:41pm
Finally, IK is speaking about a Pakistan's internal matter.
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Oct 14, 2019 10:43pm
@Munawar Abbas Kanwal, When a real effort is in the making some bad things do happen. I believe things will turnaround.
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Oct 14, 2019 11:02pm
IK needs professionals for his economic team, not the spent fuel; he needs to hold weekly meetings on economic issues at local and national levels! Curb price hike for basic necessities; Give relief to masses not to elites!
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Oct 14, 2019 11:10pm
Things will get streamlined if prices of the following get controlled: Flour, Rice, Lentils and Vegetables.
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Oct 14, 2019 11:13pm
What is the plan Mr PM Niazi. Meeting without a plan is useless, and what is the priority of all ministeres including PM. Does FM talk about finance, Does railway minister talk about railway network development, does law minister talks about law, does science minister talk about science. Everyone is busy in accusing and abusing others and that is the way to go I suppose.
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Oct 14, 2019 11:14pm
Inflation does not listen to orders ...... it listens to correct policies firmly implemented.
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Oct 14, 2019 11:19pm
100 percent sure now that this guy has no idea what he is doing.
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Oct 14, 2019 11:20pm
Already there are FOUR Prime Ministers?
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Oct 14, 2019 11:22pm
Ones prices get higher never come down on orders.
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Oct 14, 2019 11:24pm
Great. The order has been issued and now just watch the inflation come down.
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Oct 14, 2019 11:26pm
Now that Imran has ordered, inflation will be controlled
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Oct 14, 2019 11:41pm
Another King Canute? Ordering the inflation to fall? King Canute was a wise man and only ordered the tide to stop to show his sycophants how powerless he is before nature. But our PM? I hope he learns something.
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Oct 14, 2019 11:46pm
Hon PM, let's just ban inflation !
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Oct 14, 2019 11:52pm
Hasn't he learned anything from PMLN? Artificially trying to fight back against economic realities (rather than fixing structural defects and letting a natural course correction take place) will only come back to bite you.
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Oct 14, 2019 11:58pm
No wonder it was not under control. With single order he has solved inflations. Just one more reverse swing and we can become prosperous. This is even better that the chicken farm Idea. I think along with peace he is also aiming for Nobel in economics.
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Oct 14, 2019 11:59pm
has ordered concerned authorities to take steps to control the prices of basic food items,""
Paper Tiger .So he realised after about year plus that orders are required to control inflation.
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Oct 15, 2019 12:17am
the PM is right but there needs to be a government body that investigates anti competition, monopolizing, and hoarding, as these increase inflation. certain industries and goods have been under the control of a few families, who have enriched themselves by controlling the market by using the political links they have and not allowing competition in certain goods, why do you think overseas Pakistanis don't want to invest their money because there are corrupt at all levels.
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Oct 15, 2019 12:27am
PM , again wrong way to control inflation. Create more jobs...please
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Oct 15, 2019 12:45am
Great initiative
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Oct 15, 2019 12:59am
He is solely responsible for causing steep inflation. Will IK take action against himself?
Unlikely.
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Oct 15, 2019 01:08am
@Raz, said and done. Is that so easy? . Once price of medicines are controlled these drugs will disappear and dubious newer versions will flood the market. Has the government made any provision for this expected backlash
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Oct 15, 2019 01:12am
Instead of making mockery and laugh of PM, pls. provide him some valuable feedback which would be helpful for stabilizing the prices and providing some relieve to the general public. He is also from one of us and mistake happens to everyone and some people learn in a hard way. Give him concession at least he is not corrupt...
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Oct 15, 2019 01:28am
@Munawar Abbas Kanwal, dear was life better with PMLN government than PPP government and under PPP government than Musharraf government? No right... Now ask why? Because governments didn't pay heeds to macroeconomic reforms... They just concentrated on patch works like subsidies and borrowing... Pakistan has lowest tax net.. Businessmen won't even give sales tax.. So enjoy then..
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Oct 15, 2019 01:31am
@Nazmul, yes nawaz shareef made Pakistan parallel to France in his 3 times rule.. His art of government was to take loans from IMF spend some on public and transfer remaing to family buisness in London
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Oct 15, 2019 01:40am
Is that all was required.
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Oct 15, 2019 02:00am
IK is doing everything he can but his team is working against him. That is why I always say all prayers and praise for IK only (not PTI).
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Oct 15, 2019 02:09am
All the economist are in so hurry to comment.
1. Macro economics adjustments take time.
2. Does anyone know the losses the state owned enterprises makes every year.
3. Does anyone has any understanding of circular debt.
Well, I am aware that there are so many paper heroes with us right now and the concern for the poor man is his wage but believe me Khan did not created this mess. If he hadn't done this then we would have collapsed until now.
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Oct 15, 2019 02:23am
I can sleep in peace now that IK has ordered inflation away.
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Oct 15, 2019 02:35am
By rhe way, what happened to the dam fund?
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Oct 15, 2019 02:45am
The simpleton Imran must know that inflation & prices of daily use items cannot be brought down by mere passing the orders,
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Oct 15, 2019 02:54am
@Neptune Srimal, Yes by policy you can. Its called economics my dear boy.
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Oct 15, 2019 03:04am
He has no idea how economics works. Unfortunately for him, the economy is Pakistan's biggest problem!
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Oct 15, 2019 03:06am
The PM must be aware of the causes of present inflation of 11.4%, includes present 0.8% agriculture growth against targeted 3.8%, 1.4% industrial growth against targeted 7.6%, 4.4% growth in services against targeted 6.6%, Increase in prices of import, devaluation of currency, & indirect taxes.
Controlling it would require, increase in the GDP, controlling money supply through effective monetary policy & cutting down unproductive expenditures, check the corruption, control on high population growth, reduction in budget surplus & monetary expansion, effective tax system with improvement in balance of payment, & development of agricultural & industrial sectors.
It is already created big problem for fixed income groups, generated unfair distribution of income & wealth, reduced saving, created unfavorable fiscal account deficit, hike in unemployment, interest rate & social evils, reduced buying power/living standards. W/ INFLATION EVERYWHERE, LET US SEE HOW THIS MEETING WILL SOLVE IT?
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Oct 15, 2019 03:12am
He is turning Pakistan into another Venezuela. Severe shortages will follow as he tries to forces producers to sell at low.
Population control and a rush for wind and solar is the only thing that will work.
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Oct 15, 2019 04:00am
@SHAHID SATTAR , legit
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Oct 15, 2019 04:16am
Increase supply side by making cheap imports. Inflation will come down.
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Oct 15, 2019 04:43am
Inflation is not controlled by mandate or by speeches.
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Oct 15, 2019 05:01am
As if the inflation was waiting for IK order....
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Oct 15, 2019 05:17am
Give A time Breather to this government to initiate some Rules and Regulations for Price control. Thanks
How This Government Is Going To Work If the Opposition Losers are Continuing Distracting Her?
We the Public Must Not let Selfserving, greedy money launderers corrupt politicians hi jack our Government! Thanks
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Oct 15, 2019 05:27am
Comical order. Inflation is not like asking team to bowl better line and length. But to have better understanding he must focus on Pakistan rather than on everywhere else in the world
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Oct 15, 2019 05:35am
@Munawar Abbas Kanwal, Look like you are being hammered more than anyone else...:-) Inflation is high but this was writing on the wall. Do you think PMLN and PPP could have handle it better? PMLN spent ~$7-8B on keep the rupee artificially strong due to election and if they would be in govt now, they would have devalued the rupee more, because it wasn't sustainable. If the looted mafia governed us for 10 years, let give him 3-4 years at least and if he didn't fix the problem, i will be the first one opposing Mr Khan, but do you want the looted mafia to be back again?
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Oct 15, 2019 06:14am
The difficulty for Mr.IK will be when the public sees where his decisions lead - higher inflation( taxation without legislation)' interest rates, higher taxes, sluggish growth, and a jobless recovery. .... sending summons to CMs is very cosmetic approach by mr Khan and he knows it by now.
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Oct 15, 2019 06:34am
I think PMIK missed a trick here. He should have ordered NAB to arrest Inflation without charges and thrown in jail for 90 days just like some many great leaders of PPP and PML.
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Oct 15, 2019 06:34am
If Imran Khan orders to control inflation it shall be controlled. It will be like writing on water.
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Oct 15, 2019 06:54am
Very good strategy. It is like ordering a bowler to keep it tight when he is leaking runs. If concerned authorities take action and control prices inflation should be addressed. Way to go!
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Oct 15, 2019 07:00am
@syed Assad shah
Policies should be made for poor Pakistani people not for the low class of people-poor choice of words
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Oct 15, 2019 07:02am
If inflation can be control by just order then is should be done one year earlier why so late or else just fooling people of pakistan.
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Oct 15, 2019 07:35am
Now inflation will.disapear from media.
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Oct 15, 2019 07:38am
@SHAHID SATTAR , Everything starts with an order, then you implement the orders. Any questions ?
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Oct 15, 2019 08:21am
It seems Imran has no idea how economy works. It’s not that he order and inflation reduced. He is imposing new taxes, increasing, gas, electricity and other utilities prices, restricting imports, increasing interest, so obviously inflation will increase. It’s better people find someone better leader.
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Oct 15, 2019 09:20am
@SHAHID SATTAR , He is trying his best. Why don't you come up and help in dissolving the crises which your generation put us into it and never thought about your country and now lecturing us
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Oct 15, 2019 09:20am
Inflation controlled by order?
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Oct 15, 2019 09:22am
@Arif Alvi, everyone wants to live in a western alike Pakistan but not willing to pay 40% of income tax which all western counties collect and in addition they also pay property and sales taxes. Can you build a free medial or education centre without collecting Tax?
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Oct 15, 2019 09:29am
It takes a buyer to cause inflation and not a seller. Pakistani consumers love to be fleeced and then keep complaining.
I have seen people buying tomatoes at Rs 200 a kilo and complaining about mhangai! Don't they realise that one can easily live without tomatoes?
Consumer societies at different localities should be set up to fix maximum fair rates for all daily use items . Exceeding this price means the item will not sell . This will put the price control in the hands of the buyers rather than greedy market manipulators and corrupt and incompetent government officers.
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Oct 15, 2019 10:16am
@LAHORI KID, How many other orders, for example turning the country into a state like Madina, have been implemented during the tenure of office of the present government? It requires both the will to do and also self observation of the laid down rules to set an example for others, which unfortunately are lacking. The past rulers were not angels nor did they propagate themselves as such. They were thugs who ruled the country. How come anybody from among them who joins the present setup is given a clean sheet and is offered lucrative positions in the government without him being made accountable for his or her deeds of the past? As for any orders issued by the government, they are just to pacify the people and are conveniently forgotten as other issues occupy the minds of the rulers and the people.
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Oct 15, 2019 05:00pm
Order? Seriously??? If so than all Economics is failed just give orders to combat inflation, gdp growth, unemployment and all macro issues.
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