Inflation to start declining from July: FM

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ISLAMABAD, May 28 (Online): Finance Minister (FM) Shaukat Tareen has said the inflation will start declining from the month of July.

In an interview with a private TV channel he said Friday the prices of commodities are higher due to the import of wheat and pulses.

Citing to price hike he said the difference of prices between farmers and wholesale market is also a reason for inflation. The impact of decrease in prices of food items in international market will also come in Pakistan.

He held that government does not intend to levy more taxes but it wants to broaden tax net through utilization of technology.

Our talks are underway with the IMF, he said adding we have told IMF and World Bank that we will meet their target but will not impose tax upon tax, he remarked.

We will do the thing at present time which is in our interest, he underlined. It is my endeavor no one pays more tax, he added.

The corona situation has impacted the tax recoveries, he pointed out.

The policies pursued by PM and Hafiz Sheikh led the graph of economy upward. GDP growth rate credit goes to Hafiz Sheikh, he added.

IMF program was very harsh which devastated the national economy, he underscored. There was no other option before us while IMF did injustice with us, he pointed out.

ENDS/Online