ISLAMABAD: Prime Minister Imran Khan has directed federal Minister for Finance and Revenue Shaukat Tarin to initiate steps to alleviate the economic well-being of the urban lower and middle classes affected by “imported inflation”.

The prime minister said this during a telephonic conversation with Mr Tarin on Saturday to inquire about his health.

During the talk, the prime minister congratulated Mr Tarin and his team on achieving a GDP growth rate of 5.37 per cent in the previous fiscal year, which led to substantial job creation and higher per-capita income.

The prime minister highlighted that international economic organisations like Bloomberg and The Economist recognised Pakistan’s successful economic reforms and initiatives during the Covid-19 pandemic that helped save lives and jobs.

Expresses satisfaction with tax collection, exports and remittances

On inflation, Mr Tarin informed the prime minister that local food prices had been declining since December as reflected in the weekly inflationary index Sensitive Price Indicator.

He hoped that as soon as international prices come down, it would ease pressure on imported goods.

Overall, the prime minister expressed satisfaction with tax collection, exports and remittances.

Meanwhile, Mr Tarin tweeted on Saturday that for the third consecutive time, Pakistan stood in the top three in The Economist’s global normalcy index.

“No other country has achieved this in the world. The same is reflected in the revised GDP growth of 5.37pc in FY21, the second best in last 14 years,” he said.

“Moving on with the structural changes, inclusive growth and policy actions, Bloomberg has also recognised that Pakistan has entered the decade of sustained growth. The next ten years will help reduce income disparity, increase employment [and] improve human development,” the finance minister said.

Published in Dawn, January 23rd, 2022