Islamabad: Prime Minister Muhammad Shehbaz Sharif today expressed his satisfaction with the recent decline in Pakistan’s inflation rate, attributing this positive change to the government’s ongoing economic reforms and strategic financial policies. In a public statement, the Prime Minister highlighted significant improvements in economic indicators and anticipated further reductions in inflation rates.

According to Ministry of Information and Broadcasting, Prime Minister Sharif detailed the implementation of the government’s right-sizing policy and its role in stabilizing the country’s economy. He noted that the Consumer Price Index had reached a record low in July 2024, with inflation dropping to 11 percent. He also expressed optimism about economists’ forecasts, which predict a further decline in inflation in September.

The Prime Minister further remarked on the recent upgrades in Pakistan’s credit ratings by major global agencies, including Moody’s, which he said recognizes the effectiveness of the government’s economic strategies at an international level. Additionally, he pointed out the federal and Punjab governments’ efforts to alleviate financial burdens on citizens by lowering electricity bills and reducing petroleum product prices starting today.

Prime Minister Sharif expressed confidence that these measures would soon show a visible positive impact on the country’s economy, underlining the fruitful outcomes of prudent policies and diligent work by his government team.