ISLAMABAD, Oct 13 (NNN-PPI) – Climate change and the outbreak of COVID-19 in Pakistan were among the major contributors to the recent wave of inflation in the country, the finance ministry said on Monday.
It made the remarks after a ministry meeting reviewing the causes of the price hike of essential perishable commodities.
According to the concerned departments at the meeting, multiple factors, including gap in supply and demand due to climate change and the upward trend in international prices were the contributors of the inflation, while the recent rains and the COVID-19 outbreak further aggravated the situation, the ministry said in the statement.
Apart from perishable items, including tomatoes, onions, potatoes and chicken, prices of wheat and sugar also increased, the statement said.
“Adviser Finance, Abdul Hafeez Shaikh, urged all stakeholders to take drastic measures to curb inflation (and) directed Utility Stores to streamline the availability of essential items, in order to provide maximum relief to the lowest strata of society,” the statement said.
Shaikh expressed confidence that effective and well-concerted actions by provincial governments and concerned departments will help in controlling the menace of inflation.
Earlier on Sunday, Prime Minister, Imran Khan, took notice of the inflation and said that his government had finalised an action plan against it, and would use all resources at disposal of the state, to bring down food prices.
According to the Pakistan Bureau of Statistics, inflation increased by 9.0 percent in Sept, on the year-on-year basis, and 1.5 percent on the month-on-month basis.– NNN-PPI
