Daily Times

Inflation rate in Pakistan will remain at 18.5%, warns IMF

Islamabad: (Web Desk) The IMF has sounded the alarm for the people of Pakistan, inflation in Pakistan will remain at a high rate of 18.5 percent while the rate of inflation in rural areas is likely to remain up to 25.9 percent.

According to the report of the International Monetary Fund, the pressure of external payments on Pakistan will not end immediately, but the pressure of external payments will gradually end, the current account deficit will remain at 1.6 percent of the economy.

The IMF has predicted that funding delays from financial institutions will affect the economy, putting pressure on stock exchange rates.

In the report, it is alarming that the people of Pakistan will be severely affected by the inflation even before food items become expensive in the world market.

The IMF has indicated that there will be no increase in the salaries and pensions of government employees till June and there will be a cut of 61 billion rupees in the development budget.

In the report, the Pakistani institutions have also been asked to issue timely notifications for increasing the prices of electricity and gas by Nepra and Ogra, while the condition of half-yearly increase in the gas rate will also remain in place.