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Ismail Predicts Relief in Oct with Lower Inflation and Energy Bills

September can be tough, inflation and electrical energy payments will lower in October, Miftah Ismail

Federal Minister of Finance Miftah Ismail introduced the information of happiness and sadness to the citizens across the country. Miftah Ismail informed the good news of reduction in inflation in October and informed that September is the most tough month.

Federal Minister of Finance Miftah Ismail, while addressing a seminar on the country’s economic situation in Islamabad, said that inflation will decrease in October and electricity bills will also decrease, but the month of September will be tough.

Miftah Ismail said that the debt of 21 billion dollars has to be paid this fiscal year, tough decisions had to be made to save the country from bankruptcy, when he came to the government, he knew that tough decisions must be made.

The finance minister further said that 10 to 12 lakh overseas Pakistanis send remittances worth 39 billion dollars, many claims are made however our exports are less, the government has taken loans from private banks at 15 percent.

When our government was formed, there was a debt of 44 thousand billion rupees, we had a current account deficit of more than 12 billion dollars, a total of 36 billion dollars was needed during the current fiscal, sales tax was not increased, revenue tax elevated by 38 p.c. However, it isn’t tough to convey development however there needs to be regular development.

Miftah Ismail says that the G20 international locations have deferred loans value 5 billion dollars, 70 billion rupees have been given to flood victims, I’ll talk to the IMF about the flood this evening.

On the instructions of the Prime Minister, 3 lakh tents worth 10 billion 20 crore rupees have been purchased. From 2013 to 2017, electricity production has doubled through the Nawaz Sharif era.

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