Inflation is a problem of whole world: Shaukat Tarin

ISLAMABAD (Dunya News) - Federal Minister for Finance Shaukat Tarin said on Tuesday the growth rate is higher than expected which is good news adding inflation is a problem of the whole world.

These views were expressed by the finance minister in an interview with Dunya News program  Dunya Kamran Khan Kay Saath .

Shaukat Tarin said that there are no issues with the country’s economy, purchase of vaccine worth $ 100 million and increased price of petrol caused increase in the current account deficit. He said that report of deteriorating economic situation in Pakistan is not correct.

He said that inflation is a problem not only for Pakistan but for the whole world adding government is taking steps to bring down inflation.

Minister said that Bangladesh, Sri Lanka and Turkey have higher petrol prices than Pakistan. In July, food prices in the UK rose 31% in one month.

He said that with stability in Afghanistan there would be less pressure in the Pakistani market. “We will try that our growth rate is not affected as stable growth is very important,” said minister.

"We have got power through the ordinance and have the details of non-filers, we will send soft notices to non-filers to pay taxes," he said, adding if they don t pay taxes, they will be charged taxes in electricity bills.

Tarin said that Point of Sale (POS) machines are being brought and track and trace system will be launched in a few days.

Shaukat Tareen said that the government has entered into an agreement with IPPs, will bring in specialists in power and petroleum sectors. Work is being done on reforms in the power sector, he added.