President Dr Arif Alvi on Monday said the inflation rate had increased due to economic policies that included hike in gas and electricity prices, market-based exchange rate adjustments and increase in interest rates.
“Besides administrative issue, removal of subsidies on gas, electricity and market based exchange rate adjustment were also some of the reasons of increase in the current inflation rate in the country,” the president said in an interview with a private television channel.
He said the mafia also had a role in the wheat crisis as earlier the commodity was exported but now it was being imported. The flour crisis was an administrative issue and it should be resolved while strict action should be taken against the responsible persons.
It was time for the government to manage the general inflation, the president said, adding the government must take action against the mafia involved in creating the crisis.
President Alvi said he had full confidence in Prime Minister Imran Khan, who would control the present price-hike and improve the country’s economy. “I think the government will handle the present situation and will come out of the crisis.” The media should also realize its responsibility in that regard, he added.
He said the country was on a tipping point once it was come out of the present economic crisis.
President calls for taking action against mafia
He said though there was a considerable decrease in imports which had decreased the Current Account Deficit (CAD) but increase in exports was minimum and it should be enhanced to its maximum level to minimize the balance of trade issue.
About various programmes of the government, the president said there was 19 percent growth in the IT sector while 40,000 children had so for been enrolled under the Presidential Artificial Intelligence Programme while their number was on the rise.
The president said the housing sector had the potential of boosting the country’s economy and providing job opportunities to millions of people as 40 other industries were directly related to the sector.
To a question about issuance of ordinances, President Alvi said the parliament should play its role in the legislation process to resolve the problems of people. He called for unity and cooperation among the various political parties inside the parliament to resolve the people’s problems and to strengthen democracy in the country.
About return of the Pakistan Muslim League-Nawaz’s supremo and former prime minister Nawaz Sharif, he said the PML-N leader should fulfill his undertaking of returning to Pakistan.
As regards Maryam Nawaz’s going abroad to attend to her ailing father, he said Nawaz’s treatment could be done without the presence of Maryam in London.
The president said hundreds of thousands of Kashmiris had been killed in the Indian Occupied Jammu and Kashmir by the Indian occupation forces and they were under the continuous lockdown but the world community was silent over it owing to their trade and business interests with India. Separately, terming recent wheat crisis in the country an administrative issue, the President said that those found guilty of the crisis will be sent home.
Says those found guilty of creating wheat crisis will be sacked
Talking to journalists, President Alvi said that strict disciplinary and departmental action will be taken against those responsible of the wheat crisis.
He said that his statement about wheat crisis had been distorted by the media, adding that journalists should represent the true picture of the situation. The president said that the government has decided to import wheat to overcome the ongoing flour crisis in the country.
Responding to a question, the president said that inflation increased after withdrawing subsidy on electricity and other things.