Finance Minister Muhammad Aurangzeb said on Thursday that the masses should reap benefits from reduced global oil prices.
Expressing his thoughts, Aurangzeb said: “The robust economy gives a guarantee of our law and order situation in our country.
Everybody questioning how to reach towards the growth following the economic stability. It is in Sialkot that I have learned about the self-reliance. The business community is not affected due to the reduction in the policy rate.”
He said, “I have mentioned the fixation of the prices at the economic committee.”
– Middlemen blamed for public failing to reap benefits of low prices –
Aurangzeb on Wednesday called the current account surplus after a decade an encouraging development and expressed optimism over remittances reaching $35 billion.
Speaking during the ECC meeting, Aurangzeb emphasised the continued journey of economic stability. He criticised middlemen for not reducing the prices of essential goods despite a decline in inflation.
Aurangzeb underlined a paradox in the prices of commodities like chicken, gram, and mash lentils, which dropped globally but surged in the domestic market.
He attributed this discrepancy to profiteering and blamed middlemen for failing to pass on the benefits of lower global prices to the public.
The finance minister stated that November witnessed a surplus in the current account deficit for the first time in ten years, with remittances increasing by 35 per cent. The finance minister highlighted that Roshan Digital Accounts have now reached $9 billion, indicating growing confidence in the economy.
Aurangzeb also pointed out a reduction in the KIBOR rate to below 12%, which he said was boosting business confidence.
