PM Shehbaz welcomes decline in inflation, upgraded credit rating
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ISLAMABAD: Prime Minister Shehbaz Sharif on Sunday expressed satisfaction over a falling rate of inflation and improvements in other economic indicators.
In a statement from the Prime Minister’s Office (PMO), he noted that the Consumer Price Index (CPI) fell to 11 per cent in July and welcomed economists’ forecasts predicting a further decline.
The premier’s statement came after the Ministry of Finance said in its August outlook on Friday that inflation was expected to remain in the range of 9.5-10.5pc in August and further decline to 9-10pc in September “on account of stability in economic indicators”.
“After Fitch, the global rating agency, Moody’s recently upgraded Pakistan’s credit rating, which is an acknowledgement of the country’s positive economic indicators by the international financial institutions,” said PM Shehbaz.
Says govt working for economic reforms; Zardari, Shehbaz pay tribute to Kashmiri leader Geelani
He said the government was pursuing a policy of economic reforms and the implementation work was rapidly in progress over the so-called “rightsizing” policy of the government, which he himself was monitoring. He expressed the confidence that its positive impact on the economy would be visible soon.
He acknowledged that the federal and Punjab governments had provided a big relief to electricity consumers in their monthly bills, adding that prices of petroleum products were further reduced from Sunday.
The prime minister said the government believed in passing on all the benefits of such policies to the common man. The economy was moving towards stability owing to the hard work of the government’s economic and financial team, he added.
He said the government was cognisant of the issues of the people and was striving day and night to resolve them.
Tribute to Ali Geelani
Earlier, PM Shehbaz paid tribute to the late iconic Kashmiri leader Syed Ali Shah Geelani, reiterating Pakistan’s continuing moral, diplomatic and political support to the people of India-held Kashmir.
In a message on the third death anniversary of the late veteran Kashmiri leader, the prime minister said his name would always be remembered and respected in the movement for freedom of Kashmir.
Mr Geelani had been a great leader who had a firm faith that Kashmiri people must be given the right to self-determination. He had devoted his entire life for the achievement of this objective, the premier said, according to a statement issued by his office.
President Asif Ali Zardari also paid tribute to the heroic struggle of Mr Geelani for the rights of the oppressed people of India-held Kashmir on his third death anniversary.
In a message, the president pointed out that Syed Ali Geelani was a beacon of hope and resistance, inspiring countless Kashmiris to stand firm in their quest for self-determination. “His tireless efforts and sacrifices for the just cause of the Kashmiri people will forever be etched in our hearts and minds,” he said.
He said Mr Geelani was a great leader and his commitment to the right to self-determination for the people of Jammu and Kashmir was unyielding.
“His personal hardships, including years of confinement, could not break his spirit or deter him from his mission,” President Zardari said.
“Geelani Sahib remained focused on the ultimate goal and never allowed the attention of the Kashmiri people to be diverted from the pursuit of their fundamental right to self-determination.
The legacy of Mr Geelani is a “powerful driving force” that continues to inspire the people of held Kashmir, the president said.
His leadership and unwavering stance against oppression have left a lasting impression on the people of the region, the statement added.
Published in Dawn, September 2nd, 2024
