Inflation in Pakistan is decrease than in Turkey and Iran, writes Finance Ministry

ISLAMABAD: Federal Finance Minister Shaukat Tareen has submitted a written reply to the Nationwide Meeting on the difficulty of inflation, stating that the speed of inflation in Pakistan is decrease than that in Turkey and Iran.

In line with ARY Information Cake, a gathering of the Nationwide Meeting was held below the chairmanship of Deputy Speaker Qasim Suri, during which Finance Minister Shaukat Tareen appeared and submitted a written reply on inflation.

A written reply submitted by the Finance Minister to the Nationwide Meeting mentioned, “Corona in April 2021 led to an increase in inflation world wide.”

In response, it was acknowledged that inflation was recorded at 49.5% in Iran, 17.1% in Turkey, whereas the speed of inflation in Pakistan was 6.8% throughout 2019-2018 and 10.7% in FY20-2019 after rising by 4%.

The written reply mentioned that from July to April 2021, the inflation price was 8.6 %, the worth of palm oil within the worldwide market elevated by 76.5 %, attributable to which the worth elevated from 609 to 1075 {dollars}.

In April 2021, the worth of soybean and crude oil on the planet market elevated by 168%, the worth of tea elevated by 12.3% whereas the worth of crude oil within the worldwide market elevated by 178% final yr. Costs rise by 45%

The Ministry of Finance mentioned that the worth of wheat within the worldwide market elevated by 27% final yr, attributable to which the worth of flour in Pakistan elevated by 28%, the worth of sugar within the international market elevated by 56% whereas refined in Pakistan. Sugar costs rose 18 %.

The reply submitted by Shaukat Tareen mentioned that “final yr the worth of edible oil on the planet market elevated by 76% whereas in Pakistan the worth of Dalda elevated by 21%”.

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