PM expresses satisfaction as inflation slows to 11pc in July

Shehbaz Sharif says economy moving towards stability

PM reaffirms Pakistan’s moral, diplomatic, political support to Kashmiri people.

ISLAMABAD/LAHORE   -  Prime Minister Shehbaz Sharif on Sunday 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.

The prime minister said that ‘Consumer Price Index’ fell to record low in July 2024, bringing inflation to 11 percent 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 country’s positive economic indicators by the international financial institutions,” PM Office Media Wing, in a press release, quoted the prime minister as saying.  The prime minister further said that the government was pursuing a 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.

He expressed the confidence that its positive impact on the economy would be visible soon. The prime minister 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.  The prime minister said that 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. He said the government was cognizant of the issues of the people and was striving day and night to resolve them.

‘Syed Ali Geelani’

Also, Prime Minister Muhammad Shehbaz Sharif on Sunday while paying tribute to late iconic Kashmiri leader Syed Ali Geelani, reiterated Pakistan’s continuing moral, diplomatic and political support to Kashmiri people of the Indian Illegally Occupied Jammu and Kashmir (IIOJK).

In a message on the third death anniversary of late veteran Kashmiri leader, the prime minister said that his name would always be remembered and respected in the movement for freedom of IIOJK.

Geelani had been a great Kashmiri leader who had a firm faith in the Kashmiris’ people in their right to self-determination. Late Geelani had devoted his entire life for the achievement of the same objective, PM Office Media Wing, in a press release, quoted the prime minister as saying.  

The prime minister further said that Syed Ali Shah Geelani’s contributions for the freedom of Kashmiri people and in the struggle for the right to self-determination, would always be remembered, adding sufferings in imprisonment could not deter Geelani’s strong resolve.

Geelani’s sacrifices would not go in vain, the prime minister said, adding that the struggle for the right to self-determination would continue.

PM condoles Rana Afzaal’s death

Prime Minister Muhammad Shehbaz Sharif visited the residence of Federal Minister for Industries, Production and National Food Security Rana Tanveer Hussain, here at Muridke on Sunday.

He offered condolences to the minister on the sad demise of his brother Rana Afzaal Hussain, a Member of Provincial Assembly.

Shehbaz Sharif prayed to Allah Almighty to rest the departed soul in eternal peace and grant courage to the bereaved family to bear the loss with patience.

The PM appreciated the political services of Rana Afzaal Hussain and said that his services for welfare of people would always be remembered.

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