PM says monitoring right-sizing policy implementation

ISLAMABAD: Prime Minister Shehbaz Sharif said on Sunday the government was pursuing the policy of economic reforms and the implementation work was rapidly in progress over the right-sizing policy of the government, which he himself was monitoring.

According to the PM Office Media Wing press release, Shehbaz expressed the confidence that the positive impact of economic reforms and right-sizing policy on the economy would be visible soon.

The PM expressed his satisfaction over the nosediving of inflation rate in the country and the indicators of Pakistan Bureau of Statistics showing a decline in the inflation rate. He said the Consumer Price Index fell to a record low in July 2024, bringing inflation to 11 per cent, and welcomed the economists’ forecast of further decline in inflation in the current month of September.

“After Fitch [the global rating agency], Moody’s recently upgraded Pakistan’s credit rating, which is an acknowledgement of the country’s positive economic indicators by the international financial institutions,” the statement quoted the prime minister as saying.

Shehbaz also acknowledged that the federal and Punjab governments had provided a big relief to the electricity consumers in respect of monthly bills, adding the prices of petroleum products were further reduced from today. He said the government believed in passing on all the benefits of such policies to the common man. The economy was moving towards stability owing to the hard work of the government’s economic and financial team, he added. The PM said the government was cognizant of the issues of people and was striving day and night to resolve them.