8pc inflation hike in 100 days

Rs1 trillion revenue generated, budget deficit at Rs11t, expenses Rs16t, interest on loans Rs5t

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Shahid Abbas

Islamabad

Inflation rate in the country has been increased by 8.5 per cent in the first 100 days of ruling Pakistan Tehreek-i-Insaf (PTI) government.

PTI government relied on foreign aids and failed to give an effective economic policy for the country, it has been revealed.

During the first 100 days of PTI government the remittances decreased by $2 billion and Rs325b development budget cut during the period affected the ongoing projects of the government badly.

A record depreciation of national currency — rupee — was seen during 100 days, the rate of dollar jumped to 134 rupees.

The trade deficit also increased, the imports increased to $4.72bn and exports decreased to $2.06bn.

The prices of gas and electricity also increased during these 100 days of PTI, and the subsidy of Rs146bn on electricity was also withdrawn.

Circular debt of power sector also not decreased, and the rate of gas also increased by 140pc.

Prices of petroleum products also increased by Rs7 on average, duty on imported items also increased.

During the first three months the budget deficit reached to Rs11.77trillion, while Rs1.26t revenue generated from July to Sep, the expanses were Rs16.43t, while interest on the loan was 5t rupees.

PTI government failed to change the Federal Bureau of Revenue (FBR) system, and FBR failed to meet their tax targets and Rs80bn less tax collected during the trimester.