ISLAMABAD (APP) - Advisor to Prime Minister on Finance and Economic Affairs, Shaukat Tarin said here on Monday that the inflation would cut down to single digit within this calendar year. He was talking to journalists after inaugurating Pakistan Micro Finance Network (PMN) Members Code of Conduct for Consumer Protection. The advisor said that although the inflation was very concerning issue however it is on declining trend, which is fortunate. He said that the main indicator Consumer Price Index (CPI) was declined by 1.34 per cent during the month of December as compared to the previous month, adding that it is expected to come down further in January. "By the end of calendar year, the inflation would come down to single digit," Shaukat Tarin added. He said that the fiscal deficit during the first half of the current financial year was recorded at 1.9 per cent against the target of 2 per cent, showing a change of 0.1 per cent against the target. He said that there has been increase in income resources and the expenditures have also been reduced. The advisor said that fund of $156m against war on terror was expected from US till March 2008, however only $101m were received. He said World Bank would provide $500m in this quarter, adding that Asian Development Bank provide provided $100m and will provide $200m more shortly besides China also provided funds to Pakistan. To a question about economic assistance, he said technical committee would send proposals to the 'Friends of Pakistan countries' by February. He said proposals will be transmitted to Friends of Pakistan during the current month. Technical committee will give final shape to the recommendations in February and financial assistance will be approved in the ministerial committee of Friends of Pakistan in the first week of March", he said. To a question about the development funds, the advisor said that about Rs400 billion development funds were still with provincial governments, adding that Rs200 billion would be added in PSDP in the next financial year. To another question, he said that the government was committed to pass on the relief of declining international oil prices to the consumers saying that it would consider decreasing oil prices during the month of February. He also hinted at increasing electricity charges by the end of this financial year.