Newly-elected senator Tarin says inflation to come down in coming months

Advisor to Prime Minister on Finance and Revenue Shaukat Tarin has been elected as a member of the Senate from Khyber Pakhtunkhwa on Monday.

The Senate seat was vacated by Ayub Afridi from Pakistan Tehreek-e-Insaf (PTI) apparently to create space for Prime Minister’s Finance Advisor Shaukat Tarin in the upper house of the Parliament.

Polling for the election took place in the old hall of the Provincial Assembly which continued till 4 pm.

Apart from Tarin, Awami National Party’s (ANP) Shaukat Amirzada, Pakistan Peoples Party (PPP) Muhammad Saeed and Jamiat Ulema-e-Islam (F) candidate Zahir Shah also contested for the Senate seat.

Talking to media persons after being elected Senator from Khyber Pakhtunkhwa, Tarin said that the country is facing imported inflation “amid a rise in commodity prices in the international markets”.

Tarin likely to become Senator on Dec 20th

Tarin said that prices of crude oil, edible oil, steel and coal among others have doubled in a span of one year. “The world is facing the highest inflation rate in 20 years, and we are not the only country facing the effects. Larger economies including the US and India too are being affected,” said Tarin.

“We believe that prices of these commodities would come down in the coming months, which would be translated into local markets,” he said.

Highlighting the measures taken by the government to curb inflation, Tarin stated that the government has initiated Ehsaas Ration Program, which would reach 20 million families or 130 million individuals.

Tarin for keeping a close eye on lentil rates

“Under the programme, the government is providing ghee, lentils and wheat on 30% subsidised rates,” said Tarin.

“However, what we need is to increase the per capita income, and fortunately, our economy is growing by 5-6%. This will lead to increase in income, bringing much-needed respite for the public,” said Tarin.

Talking about the ongoing gas load shedding in the country, the senator said Pakistan’s gas reserves are depleting. “Every passing year, our gas reserves are declining by 9-10%. However, a number of discoveries have been made in places like Lakki Marwat, and this will increase our gas reserves,” said Tarin.