Inflation, policy rate expected to fall further in coming months: Aurangzeb

Finance Minister Muhammad Aurangzeb recently announced that due to the government’s efforts, there will be a further drop in consumer price inflation and the State Bank of Pakistan’s key policy rate in the coming months. He stated that the government’s economic stability initiatives have started to show positive results. The inflation rate has dropped to single digits and is expected to decrease further. The recent CPI-based inflation fell to 6.9% year-on-year in September 2024, the lowest since January 2021. The finance minister also expressed condolences over the loss of Chinese engineers in Pakistan and emphasized the negative impact of strikes on the economy. He urged for negotiations to resolve issues instead of resorting to strikes.