Inflation exists across world, US, China, Europe & India also affected: Asad Umar

ISLAMABAD (92 News) – Minister for Planning Asad Umar has said that inflation exists across the world while the United States of America, China, Europe and India are also affected by inflation.

Addressing a press conference on Monday, he said that crude oil had increased by 81 percent in the world. "To the contrary, the crude oil rate increased only by 17.5 percent," he maintained.

He said that the edible oil rate increased by 48 percent in the world, but it rose by 38 percent in Pakistan.

Asad Umar said that the government bore the pressure and gave the relief to the masses after reducing taxes. "The flour price has increased due to an increase in the wheat price by Rs 400. Farmers have been given a subsidy of Rs 1,000 billion," he maintained.

He said that an amount of Rs 260 billion is being given under the Ehsas Program. "The government is going to start the targeted subsidy," he added.

The minister said that the inflation would reduce by March. "The rupee had been under pressure for the last four months. The pressure was due to the trade deficit," he added.