Inflation rate would be brought down to 10pc: Sahukat Tareen

Finance Advisor, Shaukat Tareen in a meeting with the Islamic Development Bank (IDB) president, Dr. Ahmad Ali told this here. The meeting focused Pakistan economic situation and IDB investments in different development projects.

DUBAI: Finance Advisor, Sahukat Tareen has said that Pakistan has succeeded in controlling the inflation rate, which would be brought down by June to 10 percent from 25.

He said that stock exchange in Pakistan has been restored and the index was ranging between 4800 to 6000 opoints, while the current account deficit has been reduced substantially and the forex reserves situation was satisfactory. Besides inflation rate has come down due to increase in bank rate and the economy was moving ahead towards stabilization. Shaukat Tareen on this occasion urged upon the IDB to enhance its present loan allocation of $500 million to $1000 million so that it could be used for poverty reduction in Pakistan. He said that a steering committee would be constituted for this purpose, through which, donors agencies members could be monitoring the poverty alleviation program.