Inflation is being mentioned all over the world: Asad Umar

Planning and Development Minister Asad Umar on Monday said that Inflation is being mentioned all over the world.

He said food prices have risen around the world. I will ask four questions. Why did inflation happen ??

He said last year there was an extraordinary disaster, the world closed suddenly, the supply of goods was high and the number of users was low, he added.

We adopted a strategy that was appreciated around the world. We have adopted a smart lockdown policy.

He said we opened up the energy, export industry, pharmaceutical companies, and other sectors.

There are strict restrictions in the world. EU, India, China, and other countries were affected. The system will be in disarray.

When the world returned to normal, the demand for groceries increased and became scarce, he maintained.

He said twelve months ago, in September 2021, there was a list of what was happening compared to 20. Fruit oil in the world increased by 81.55% and Pakistan increased by 17.55%. Gas prices to rise by 135% Pakistan has not increased its domestic gas prices. Gas prices rose 16 percent and 135 percent abroad.

Sugar prices rose 53 percent in the global market and 15 percent in Pakistan. The price of urea fertilizer in the world market was 66% and in Pakistan, it was 28%, he concluded.

ePaper - Nawaiwaqt