Two days after Prime Minister (PM) Imran Khan said that his government will soon overcome inflation in the country “caused by the flawed policies of previous regimes”, his adviser on commerce, textile, industry and production, Abdul Razak Dawood, has said that no timeframe can be given in this regard.
Addressing a public gathering in Mianwali last week, the premier said that his government had inherited multiple economic issues, including low foreign exchange reserves, a huge circular debt and fiscal as well as current account deficits.
“Previous administration had been spending reserve dollars to stabilise and maintain the value of the local currency. The PTI [Pakistan Tehreek-e-Insaf] government had not found enough dollars to follow suit so a correction strategy followed,” he said.
The premier also blamed rupee devaluation for inflation, adding that his government had nothing to do with it and the genie will soon be put back in the bottle.
Speaking at a prize distribution ceremony at the concluding day of three-day 11th “Interiors Pakistan” international exhibition at the Expo Center organised by Pakistan Furniture Council (PFC), Dawood on Sunday said that inflation was a very big issue and the government was trying to control it.
He said that no timeframe could be given in this regard, however, “prices of food items will soon be controlled”. “The price of dollar has stabilised, fluctuation has been brought under control,” Dawood maintained, adding that escalating prices will be controlled with the efforts of the government in near future.
