ISLAMABAD: Prime Minister Imran Khan on Sunday asserted that Pakistan had comparatively managed “much better” than other countries amid an “unprecedented” hike in the commodity prices across the globe caused by the COVID-19 lockdown.
Taking to Twitter, the prime minister shared a YouTube video made by Finance Ministry Spokesperson Muzammil Aslam, who claimed that Pakistan’s economic indicators were positive despite a record increase in the prices of essential items.
While an unprecedented rise in commodity prices internationally has adversely affected most countries in the world as a result of Covid lockdowns, Pakistan mashaAllah has fared relatively much better.https://t.co/KCKt8RipNs
— Imran Khan (@ImranKhanPTI) November 7, 2021
In the video, Muzammil Aslam rubbished the notions of Pakistan’s dwindling economy and claimed that those who were criticising the crashing economy had nothing substantive in their criticism.
He said it was true the prices of basic essentials witnessed an unprecedented hike, but this was due to an increase in prices across the globe. As per Aslam, Food and Agriculture Organisation (FAO) in its report said that during Sept-Oct, there was 3.9 percent increase in food inflation.
Quoting the FAO’s data, the spokesperson asserted that from September to October this year, food prices increased by 1.9%, World Cereal Index by 3.2%, edible oil prices by 9.6%, and dairy products by 2.6%.
According to the government official, Pakistan’s exports “fared worse during the past eight years”. However, in October, exports showed a 17.5pc increase; whereas, in July-Oct, they increased by 25pc, he added.
Muzammil Aslam further said Pakistan’s textile exports in the first months of the ongoing financial year stand at $6 billion. “Pakistan’s exports may reach $35 billion this year due to record increase in textile exports,” he added.
Speaking about taxes, he said tax collection witnessed a “37 per cent increase” due to an “increase in income”. He said there was 81 percent increase in the cotton crop output. He said non-oil imports also decreased 12.5pc during October.
He said 12.25pc increase in industrial growth was witnessed in August, adding that the companies also registered 21pc increase in profits. He said there will be record production of sugar this year. The spokesperson said the prices of food items will be brought down very soon as well.
