Required Measures Being Taken To Control Inflation: Farrukh

ISLAMABAD, Dec 1 (UrduPoint / Pakistan Point News - 2nd Dec, 2021 ) :Minister of State for Information and Broadcasting Farrukh Habib on Wednesday said the required steps were being taken to control inflation in federation and provinces by passing on limited impact of global inflation to the masses.

"There has been a substantial decrease in the prices of essential commodities as compared to the last year due to the administrative actions taken by the Pakistan Tehreek-e-Insaf government in the federation and provinces," he said while talking to the media persons.

The price of sugar had been reduced by Rs 60 per kilogram due to the measures taken by the Pakistan Tehreek-e-Insaf governments at Federal and provincial levels including action against hoarders and starting crushing season of sugarcane timely in various provinces.

"Today, ex-mill rate of sugar exists between Rs 85 and Rs 90," he said, holding Sindh government responsible for the deliberately delaying start of the crushing season in the province which spiked the sweetener rate.

The minister said the Sindh government delayed the crushing season in a bid to benefit the hoarders and profiteers patronizing by the Pakistan Peoples Party (PPP).

It was an open secret that Asif Ali Zardari was a major beneficiary of price-hike of sugar, he said, adding the Sindh government did not support the federal government's initiatives followed by governments of other provinces.

He said that governments of Punjab and Khyber Pakhtunkhwa released imported sugar in the market to bring down the prices.

He said unlike the Pakistan Muslim League-Nawaz, the present government did not import a single sack of fertilizer. "We have increased its production by providing gas to them (fertilizer sector)," he added.

The minister said fertilizer was being hoarded in Sindh due to incompetency of the Sindh government. It was the Sindh government which had been encouraging hoarders, he observed.

Unlike the Sindh government, he said the government in Punjab lodged 347 FIRs and arrested 244 persons for hoarding fertilizers. The Punjab government deserved appreciation for preventing exploitation of farmers, he added.

Such administrative actions ensured Rs 400 per sack decrease in fertilizer's price, he said, lashing out the Sindh government for taking anti-farmers measures.

He said the Sindh government did not taking any administrative action against the hoarders.

All the governments, except the Sindh's had given their share for providing subsidy to the farmers on Diammonium phosphate (DAP), he added. ������ � Farrukh Habib said the global inflation had increased due to sluggish business activities due to coronavirus pandemic. The price of petroleum products had increased by 100 percent, he added.

Similarly, the price of edible oil had also registered the surge from $400 per ton to $1300 per ton.

He blamed 70 percent lentils' imports as major cause of increase in their prices.

The minister said the 20 year record of inflation had broken in Euro Zone due to Covid-19.

In Euro Zone five percent increase was registered in inflation, he said, adding in United States of America (USA) 31 years record of inflation had broken with 6.2 percent increase in inflation.

In Canada, 4.7 percent inflation has increased. Likewise, 26 and 50 years record of inflation has also broken in China and Germany respectively.

According to a report of the food and Agriculture Organisation (FAO) of the United Nations, over 50 years record of global inflation had broken.The government had substantially decreased the ratio of taxes to minimize the effects of inflation, he added.

He said the government had collected some Rs 400 billion less taxes by not passing on the prices of petroleum products to masses.