‘Inflation is happening all over the world, reason unknown’: Shaukat Tarin

Speaking at a press conference in Washington, Finance Minister Shaukat Tarin said that other items, including oil, are becoming more expensive all over the world and the reason why they are happening is not known, reports Geo News.

Tarin said, “If the effects of the Covid pandemic reduce, inflation will come down and targeted subsidies of 40 per cent will be given to the country’s population.”

He added that one billion dollars are to be expected from International Monetary Fund (IMF), which will be confirmed in the next two days.

Moreover, the government on Friday decided to appoint Shaukat Tarin as the Adviser to Prime Minister on Finance, as his six-month tenure as the financial adviser is expiring today, sources told Geo News.

The finance minister was supposed to get elected as a senator — a prerequisite to continue as finance minister — as the six-month time limit to elect him as a member of parliament expires today.