Tue, 16 Aug 2022

Islamabad [Pakistan], May 5 (ANI): Pakistan Information and Broadcasting Minister Marriyum Aurangzeb on Thursday claimed that Prime Minister Shehbaz Sharif has improved the country's economy in two weeks thus providing relief to the masses who had been hit hard by the inflation for the last four years.

In a series of tweets, Aurangzeb said that in this during the month of Ramzan, there were no long queues of mothers, sisters and daughters seen outside the utility stores for the purchase of one kilogram of sugar, ARY News reported.

She further said that the people today are receiving cheap flour, sugar and ghee.

Information and Broadcasting Minister pointed out that the prices of the essential items were at a record level during the Imran Khan-led government.

Criticizing the previous government's policies, Aurangzeb said that PM Sharif is trying to save the people from the burden of incompetence and loot of former PM Imran Khan, reported ARY News.

She also said that the business partnerships are now being forged with the friendly countries of Saudi Arabia and the UAE for the country's development.

The Information Minister said that business partnerships are now being forged with the brotherly countries of Saudi Arabia and the UAE for the country's development, according to ARY News.

Aurangzeb's claims of improving the country's economy came after the former Information and Broadcasting Minister Fawad Hussain said in a tweet, "Inflation in the country has reached a three-year high, utility stores are virtually closed, money expectations from Saudi Arabia and Abu Dhabi have not been met, government policy on fuel prices is not yet clear, economy in practice is running without a driver. The interim government is just passing the day."A day earlier, Interior Minister Rana Sanaullah also slammed Imran Khan-led Pakistan Tehreek-i-Insaf (PTI) government and said that the party played havoc with the economy through most unstable and everyday changing tax policies, which plunged the country into the quagmire of inflation, Radio Pakistan reported.

The Interior Minister said that PTI only painted a rosy picture and made false promises which proved a total failure, the Pakistani newspaper reported.

Meanwhile, in its recent 'Pakistan Development Update', the World Bank has highlighted the structural weaknesses of Pakistan's economy which include low investment, low exports, and a low productivity growth cycle. Further, high domestic demand pressures and rising global commodity prices would lead to double-digit inflation in the country, reported Islam Khabar.

Moreover, the growth momentum is not expected to pick up in Pakistan in the near future as a sharp spike in the import bill would also impact the Pakistani Rupee adversely. The World Bank report cites the financial sector's inadequacy as one of the reasons for this low growth. (ANI)

More Beijing News

Access More

Sign up for Beijing News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!