ISLAMABAD, Feb 28: Finance Minister Shaukat Aziz on Friday told the National Assembly that the rate of inflation had been kept at 3.8 per cent during last three years which was far less than the average inflation of 9.7 per cent recorded in 1990s.

Replying to a question raised by Maulana Abdul Akbar Chitrali about the inflation, the minister said the inflation rate was 3.6 per cent in 1999-2002, 4.4 per cent in 2000-2001, 3.5 per cent in 2001-2002 and 3.5 per cent in 2002-2003.

The MNA had asked the minister to give the average price hike which had affected the common man during the last three years and the steps taken or proposed to be taken by the government to control this.

The finance minister said that the government believed in checking inflationary pressures through economic measures rather than formal price control.

He said close vigilance was kept on the rise in prices through weekly meetings of SIPC and Kitchen Items Committee of the cabinet headed by Deputy Chairman of Planning Commission and Economic Coordination Committee of the cabinet.

The minister said other measures in the realm of supply augmentation were also taken through periodic adjustments.