Pakistan looks to tame high inflation with fuel price cuts

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Pakistan looks to tame high inflation with fuel price cuts
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SaltWire's Atlantic regional weather forecast for October 16, 2023 | SaltWireKARACHI, Pakistan - The Pakistani government is looking to tame inflation with fuel price cuts and a price-control mechanism, caretaker Prime Minister Anwaar ul Haq Kakar said on Monday.

He added that efforts should be maintained in transferring the benefit of the cut on prices of commodities. Pakistan's inflation rate rose to 31.4% year-on-year in September from 27.4% in August, primarily due to high fuel and energy prices. "Pakistan is a trade deficit country with limited dollar inflow avenues in its balance of payments. In the longer term, present information suggests the rupee would likely continue a depreciating trend, albeit, ongoing efforts may limit the quantum of depreciation," she added.

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