ISLAMABAD: Information Minister Fawad Chaudhry Thursday said the previous governments took huge loans, sunk the institutions, and now due to repayment of loans and high global prices of essential commodities a difficult situation like inflation was created, which has affected the salaried class the most.
Speaking here at the swearing-in ceremony of PTV Central Employees Union, the minister emphasised that peace was necessary to take the country forward and development was not possible without peace.
He added that due to the Covid, the global supply chain was affected which led to increase in the prices of essential commodities all over the world. The minister conceded that today the salaried class is more affected by inflation, the salaries of the salaried class have not increased in proportion to inflation. He said that Pakistan does not produce oil, gas reserves are also declining, we have to import oil and gas, in the past expensive electricity contracts were made, electricity was produced by buying expensive fuel. “If there was money in the country, we could have given subsidies to protect people from the effects of inflation,” he said.
