New Pak PM Orders Immediate Steps To Control Inflation

Amid a declining economy in Pakistan, the newly elected Prime Minister Shehbaz Sharif ordered immediate steps to control inflation in the country.

Speaking at the meeting on the economic situation, PM Sharif said, “Steps should be taken to improve the economic condition of the common man in any case.”

Pakistan Prime Minister reviewed the meeting where the Ministry of Finance briefed him about the economic situation in the country.

The meeting was attended by the Pakistan Muslim League-N leaders like Shahid Khaqan Abbasi, Ahsan Iqbal, Miftah Ismail, Zubair Umar, and party’s spokesperson Marriyum Aurangzeb and others, including authorities concerned, Geo News reported.

Moreover, PM Sharif issued directives for efforts to be made on a priority basis to control the inflation in the country.

Meanwhile, former Pakistan Finance Minister, Miftah Ismail is likely to be named as the new finance chief of the country.

These developments came ahead of the crucial talks with the International Monetary Fund (IMF) as Pakistan’s economy is in dire straits.

The new economic team will have to deal with depleting foreign exchange reserves that have dropped to levels that can fund just a couple of months of imports.

Newly elected Prime Minister Shehbaz Sharif may name Ismail and the rest of the cabinet within 24 hours, Geo tv reported citing Uk media.

According to reports, Ismail is said to be among the officials responsible for negotiating with the IMF to resume the USD 6 billion programme that went into jeopardy after former Prime Minister Imran Khan unexpectedly decreased energy prices, despite an agreement with the lender for the opposite.

The International Monetary Fund (IMF) had expressed concerns over the financial impact and financing sources of Imran Khan’s relief package on electricity and petroleum prices. (ANI)