ISLAMABAD: Prime Minister (PM) Imran Khan Sunday said that Pakistan had comparatively managed \u201cmuch better\u201d than other countries amidst an unprecedented price hike of commodities caused by the COVID-19 lockdowns.<\/p>\n
On Twitter, the premier said that an unprecedented rise in commodity prices internationally had adversely affected most countries in the world as a result of the COVID-19 lockdowns.<\/p>\n
However, he said, \u201cPakistan MashaAllah has fared relatively much better.\u201d<\/p>\n
The prime minister also shared a video clip of Finance Ministry Spokesperson Muzammil Aslam who rubbished the notions of Pakistan\u2019s dwindling economy.<\/p>\n
Quoting data by the Food and Agriculture Organisation, he said that from September to October this year, food prices increased by 1.9%, World Cereal Index by 3.2%, edible oil prices by 9.6%, and dairy products by 2.6%.<\/p>\n
However, he said that despite the worldwide inflation trend, Pakistan\u2019s exports recorded an increase of 17% in October and are likely to touch the $30 billion mark this year. Textile exports are expected to reach $22 billion this year.<\/p>\n
He said consequent to the government\u2019s timely measures, the non-oil imports of the country reduced by 12.5% last month making a difference of $750 million.<\/p>\n
He said that due to increasing income, tax collection also surged with 32% increase in four months, making the government receive additional Rs151 billion compared to last year.<\/p>\n
He said according to the latest data, the country\u2019s cotton crop increased by 81% during the last four months. In August, the industry recorded a growth of over 12% and companies\u2019 profits by 21%.<\/p>\n
\u201cAll this shows that the country\u2019s economy is heading fast and employment would be required in the coming days,\u201d the spokesperson commented.<\/p>\n
Addressing a question about any relief for the middle class in PM\u2019s recently announced Rs120 billion relief package, he said the government had already announced a concession of Rs5-7 on every electricity unit to be consumed more than the previous year\u2019s consumption during November to February.<\/p>\n
Moreover, he said the sugar prices would fall in the near future owing to record sugarcane crop.<\/p>\n
\u201cAll these things will appear on ground in the coming days,\u201d he remarked.<\/p>\n
He said the prices of oil, gas and edible oil were not in the government\u2019s control; however owing to the record crops this year, Pakistan will emerge from a food deficit to a food surplus country.<\/p>\n