Only 4.01 % inflation recorded: Senate told


ISLAMABAD, April 18 (APP): Minister for Commerce Khurram Dastgir Khan Tuesday informed the Senate that inflation was recorded only 4.01 per cent during the first nine months of current fiscal year as compared to 2.81 per cent of last year.
Winding up discussion on an adjournment motion moved by Muhammad Azam Khan Swati and Siraj-ul-Haq about recent price-hike in basic food items, the minister said it was below the expected target of 6 per cent.
He said that prices of the essential food items were mainly stable in the country owing to effective monetary policy of the government. Giving the breakup, Khurram said out of total 53 essential items, prices of only six had increased, of 15 items decreased while of 32 items remained stable.
The minister said soon after inception of the government, the Prime Minister not only announced 30 per cent cut in non-developmental expenditure but also abolished all discretionary funds.
He said price of DAP urea was also decreased besides slashing power tariff for farmers. Khurram conceded that prices of Tomato witnessed sharp increase due to fluctuation in demand and supply but now prices of the commodity was about Rs 60 per kg as per statistics of Pakistan Bureau of Statistics.
He said government regularly conducts surveys of 76 markets of 40 cities of the country to ensure stability in the prices of the food items.
The minister subsidies were also being provided to farmers to maintain prices of the daily food items.