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Bringing inflation down, Asad Umar directs ministries to take steps

On the directives of PM Imran Khan for bringing inflation down the worth hike within two months the least bit costs.

Federal Minister for Planning Asad Umar on Friday directed all ministries concerned to require all out steps for bringing the inflation down. Now Asad Umar is anticipated to provide a close presentation to Imran Khan on coming Monday for recommending measures to scale back the work hike. The meeting decided to propose a discount in GST on Ghee/Cooking oil a top official of the Ministry of Food Security told on Friday. He said that the minister also suggested to ban the export of any food item that possessed possibility of price hike within the domestic market. He proposed to slap ban on export of onion, if it’s necessary.

The minister directed the Utility Stores to get food commodities at wholesale prices and supply maximum benefits to consumers. Asad Umar said that price hike would start to say no this month and inflation was expected to drop significantly. He made observations while chairing a review meeting for controlling food inflation. The CPI based inflation had witnessed 14.6 percent height in January 2020, the highest over within the last one decade on monthly basis. Now it’s expected that the inflation will come down and can be standing at slightly over 13 percent fro February 2020.

The official circles believe that the economy had witnessed its lowest ebb and now the phase of rebound would kick start because the LSM had changed into massive positive after witnessing a powerful growth in production of sugar. According to official statement issued here. Asad Umar chaired a review meeting on controlling food inflation in Islamabad.

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Variety of measures for overcoming the crisis of skyrocketing prices of food items were considered within the meeting. Asad Umar directed to strengthen the monitoring system of 18 essential commodities including wheat, sugar, flour, edible ghee/oil, potatoes, onions and pulses altogether the provinces. He directed Umar Lodhi, MD of Utility Stores, to test the costs of pulses. He also instructed the Ministry of Food for developing strategies to extend local production of food products. Asad Umar instructed to stay an in depth watch on the onion and potato trade situation. He said that the price hike will start to say no this month.


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