The impulsive decision-making on economic and regional trade issues marked the fragile nature of the country’s political economy last week as inflation surged to 9.01 per cent in March from 5.7pc in January.
In one of the most mercurial moments, the federal cabinet rejected a decision of its Economic Coordination Committee (ECC) that had approved the revival of trade relations with India by allowing imports of sugar, cotton and cotton yarn through land and sea routes to address rising prices and shortages.
This was surprising given the fact that the “prime minister in his capacity as minister-in-charge for commerce has seen and authorised the submission of the summary to the ECC of the cabinet after adding criteria for (the) allocation of quota to commercial importers”.
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Impulsive decision-making, regional trade issues have shaped Pakistan s fragile economy ANI | Updated: Apr 05, 2021 21:51 IST
Islamabad [Pakistan], April 5 (ANI): As Pakistan s inflation soared from 5.7 per cent in January to over 9 per cent in March, impulsive decision-making and regional trade issues have come to the fore which marked the fragile economy of the country.
The federal cabinet of Pakistan earlier backtracked from a decision made by its Economic Coordination Committee (ECC) that had approved the revival of trade relations with India by allowing imports of sugar, cotton and cotton yarn through land and sea routes to address rising prices and shortages.
According to Dawn, the U-turn was surprising given that Prime Minister Imran Khan had seen and authorised the submission of the summary to the ECC in his authority as the Minister-in-charge for commerce.
Islamabad [Pakistan], April 2 (ANI): In wake of a surge in prices of food and electricity, especially in the rural areas of the country, inflation in Pakistan jumped to over nine per cent in March, the highest rate in several months, according to the Pakistan Bureau of Statistics (PBS) on Thursday.
Inflation Increases by 9.1% in March 2021
Pakistan’s consumer inflation (CPI) rate jumped to 9.1 percent on a year-on-year basis in March 2021 compared to an increase of 8.7 percent in the previous month and 10.2 percent in March 2020, says the Pakistan Bureau of Statistics (PBS).
According to the monthly review on price indices by the PBS on a month-on-month basis, the CPI increased by 0.4 percent in March 2021 compared to an increase of 1.8 percent in the previous month and an increase of 0.02 percent in March 2020.
The PBS recorded 9.1% inflation rate three days after Prime Minister Imran Khan sacked Finance Minister Dr Abdul Hafeez Shaikh on charges of not controlling inflation.