MM News

ISLAMABAD: Prime Minister (PM) Imran Khan has directed strict action against the perpetrators creating artificial inflation across the country.

According to sources, a high-level meeting was held under the chairmanship of PM Imran Khan to review the country’s economic situation.

During the meeting, the prime minister was briefed on the inflation situation in the country. The meeting discussed the effects of increase in prices of petroleum products.

Sources further said that the meeting discussed reducing taxes on food items while the PM directed the ministers to take steps to implement price control committees.

Imran Khan said that the ministers should keep an eye on the artificial inflation in their constituencies, adding that strict measures should be taken against those involved in the artificial inflation and the hoarders.

Minister for Planning, Development Asad Umar had ruled out “immediate relief” from the rising inflation, saying that it could take at least five months for the “abnormal increase” in global prices.

Read more: Asad Umar rules out ‘immediate relief’ from rising inflation

Addressing a press conference in Islamabad, the minister pointed out that the world was passing through a critical period of extremely high commodity prices and Pakistan was no exception.

“The situation might remain same till March 2022, however as per projection of the international experts the prices of the commodities might start receding to normal level from March to June next year,” Asad Umar said.

The federal minister further said that once international commodity prices stabilised and the trend headed towards normalisation, “the government will then be responsible to pass on that relief to the masses.”