Islamabad: Prime Minister Shehbaz Sharif says inflation has decreased as a result of continued efforts of the government and now there is a need to focus on growth.

According to Radio Pakistan, chairing the Federal Cabinet meeting in Islamabad today, he said it is good news that the inflation has come down to 4.9 percent, reaching the lowest level in the last 70 months. The Prime Minister expressed confidence that this reduction in inflation will lessen the common man’s burden. He hoped that the State Bank of Pakistan may reduce the policy rate as a result of this decrease in the inflation rate.

Shehbaz Sharif highlighted the impact of recent protests in Islamabad, which led to a decline of 3,000 points in the Pakistan Stock Exchange. However, he noted that the stock exchange bounced back the next day after normalcy was restored in the capital.

The Prime Minister emphasized the need to shift focus towards economic growth, calling for a concentrated effort to enhance GDP progress and achieve economic stabi
lity. He urged for diligent work across various sectors to improve the economy, increase exports, remittances, and production, strengthen local industries, create employment opportunities, and develop Special Economic Zones.

Shehbaz Sharif mentioned that revenue collection has also increased compared to the previous year, attributing this to effective enforcement measures. He assured that the government took utmost care while allowing the export of sugar to maintain price stability in the local market and anticipated that sugar exports could earn foreign exchange worth 500 million dollars.

Furthermore, the Prime Minister commended the role of the Pakistan Army in curbing smuggling across Afghanistan, which played a key role in stabilizing sugar prices domestically. He also praised the efforts of Aviation Minister Khawaja Asif and former Aviation Minister Khawaja Saad Rafique for their role in the removal of the ban on PIA flights to Europe.