ISLAMABAD: The government says it is increasing the number of benefits and the number of beneficiaries, while the results of policies and efforts to reduce inflation will come out in the "coming days".
The Finance Ministry statement sought to explain the ever-increasing inflation rate.
It should be noted that in January, the inflation rate in Pakistan was recorded at the highest of 14.6 per cent in a decade, which is being widely criticized by the public.
However, the aforementioned statement on the issue also talked about increasing the number of beneficiaries of income support and other subsidies.
Without timely determination, the ministry said that after the adverse weather conditions and supply disruptions, inflation would ease and the economy would move towards production and growth in the days to come.
The ministry said, "Where these reasons will reduce inflation, the government has taken several relief measures to protect infected people, including subsidizing the Utility Stores Corporation on five basic items for which the Ministry of Rupees 7 billion. Industry and production have been shifted while subsidy of Rs 226.5 billion is being allocated to users of electricity less than 300 units per month.
The ministry pointed out that for the Prime Minister's sense program, 190 billion total allocations of 100 billion have been allocated, a subsidy of Rs 24 billion has been given on gas and the government has allocated 1 lakh families in August 2019 under special transfer. Rs. Per family provided.
The ministry hoped that the results of stability policies, intervention in the agriculture sector, continuous monitoring at the federal and provincial levels and improved weather conditions would produce positive results.
At the same time, he said that a monthly payment of Rs 5,000 has been made to 43 lakh families in December 2019 and a monthly sponsorship of Rs 2,000 has been started from 1st February, while another one lakh people will be benefited. The program will be included in the next 5 months.
Under the university fees and other expenses, Rs 50,000 is being provided to undergraduate scholarships for needy students while Rs 152 billion allocated for integrated FATA districts plus Rs 750 for boys and Rs 1000 for girls (primary school children). Is being provided to 3 million children on a quarterly basis.
Ministry increases food prices due to adverse effects of inflation due to monsoon rains on a wheat bounty, severe cold and fog disrupts the supply of essential commodities, cultivating wastes and coming to market The delay attributed the decline in vegetable production.
He hoped that as the weather changed, the supply of potatoes, tomatoes and onions would improve, which would lead to lower prices.
The finance division pointed out that another reason for the rise in inflation is the impact of global commodity prices such as soybean oil prices up 12.8%, palm oil prices 16.8%, palm oil prices increased by 43.8%.