ISLAMABAD: State Minister for Finance, Revenue and Economic Affairs Hina Rabbani Khar on Friday apprised the National Assembly (NA) that the government is taking all out efforts to control inflation. Replying to a Calling Attention Notice raised by Nisar Tanveer, Malik Shakir Bashir Awan and others regarding many-fold increase in the prices of commodities, she said that the inflation could be controlled by tightening monetary and fiscal policies.
On monetary side, the government raised interest rate to control inflation despite complaints of private sector, she said and added that borrowing from State Bank of Pakistan was also reduced. She said that on fiscal side, massive cuts were made in the various sectors expect law and enforcing and energy sectors to control inflation. Subsidies were being gradually rolled back and the government is going towards targeted subsides for the welfare of poor people, she said.
Hina said that massive subsidy was still being given to power and fertilizer sectors. The minister said that Benazir Income Support Programme (BISP) was launched to mitigate sufferings of poor segment of the society and it is a very successful practice. She said that prices of various commodities in the country were comparable in the region.
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