There is price hike today because of rising prices of commodities in the international market: Fawad

ISLAMABAD (Dunya News) - Minister for Information and Broadcasting Chaudhary Fawad Hussain has said the present government has changed the country’s economic direction.

Addressing an event in Islamabad on Wednesday, he said our construction, textile and software industries are booming today, expressing the confidence that the country will stand on its own feet in the next few years.

The Minister however regretted the debt burden of twenty three thousand billion rupees accumulated during the period between 2008 and 2018. He said this money was laundered abroad and the country today is faced with the issue of inflation. He said the government will have to return loan of twelve billion dollars this year.

Fawad Chaudhary said there is price hike today because of rising prices of commodities in the international market. He pointed out that the prices of petroleum products, palm oil and wheat have substantially gone up.

He put emphasis on the modernization of livestock and farming sectors saying this will help us bolster our exports of food related items to the Arab World. He said we will also have to add value to our industrial products to enhance our exports.