Daily Times

Minister of State for Finance Aisha Ghaus Pasha on Monday informed the National Assembly that the government was planning to provide targeted subsidy on petroleum products. Responding to various supplementary questions during Question Hour, she said that inflation jumped to 27.6 percent in January from 24.5 percent recorded in December. The average inflation during July 2022-January 2023 has reached 25.4 percent due to various reasons including the Russia-Ukraine war, higher international commodities prices, currency depreciation, and fiscal consolidation measures taken to improve the country’s macroeconomic conditions, she added. She said wheat and other food items had to be imported at a higher cost due to the lingering impact of floods. However, the government was making hectic efforts to provide relief to the common man keeping in view the current inflationary trends, she added. The minister said the government has enhanced the stipends under Benazir Income Support Program (BISP) to support deserving families. Ramadan package has also been given to provide essential commodities to the people at reduced rates, she said. The minister said the government was making all-out efforts to bring down inflation having both domestic and international factors. However, she said they needed provincial governments’ cooperation to check the price hike. To another question, she said the government was also giving priority to tax revenue mobilization in view of the current economic challenges and to reduce deficits. A committee has also been set up to expedite tax cases pending in different courts, she said. To another question, the minister said there were 140 non-custom paid confiscated auction-able vehicles which could not be auctioned and lying for over one year in various customs directorates. There was no maximum period for auctioning of the confiscated vehicles, she said.