Prime Minister Shehbaz Sharif has said that the month-on-month inflation rate in January has dropped to 2.4%, the lowest in 9 years, Saudi Arabia has provided the facility to import oil worth $1.2 billion on deferred payment for one year.
Addressing the federal cabinet meeting, the Prime Minister expressed grief over the attack on the anti-polio team in Jamrud and offered Fateha for the martyred official.
The Prime Minister said that the inflation rate in January 2024 was 28.73%, inflation decreased to 4.1% in December 2024, the gradual decrease in the inflation rate is a good sign.
Shehbaz Sharif further said that now there is a full effort to move towards economic development, for this, all the relevant ministries should pay full attention, we will move forward in this regard and this is the challenge for us how to increase economic growth.
The Prime Minister said that the facility to import oil from Saudi Arabia on delayed payment ended in December 2023. On the instructions of the Saudi Crown Prince, a delegation visited Pakistan yesterday and provided a deferred payment facility of $1.2 billion for one year on oil imports.
The Prime Minister said that as a result of the Saudi facility, our foreign exchange reserves will be strengthened, now we should be encouraged and investment should be brought in.
The Prime Minister said that the Saudi Development Fund has also approved a $41 million water project for Hazara Division, in addition to this, King Salman Hospital will be built with a $40 million grant from the SFD Fund.
The Prime Minister added that tomorrow, February 5, the entire nation will celebrate Kashmir Solidarity Day with enthusiasm and the entire Pakistan will express solidarity with the freedom movement of the Kashmiri people in occupied Kashmir.
Shahbaz Sharif further said that yesterday the agricultural tax law was passed in Sindh and Balochistan, now the four provinces have fulfilled the demand of the IMF, the Prime Minister thanked President Zardari, Chairman Bilawal Bhutto Zardari and the Chief Ministers of the four provinces for enacting legislation related to agricultural tax.
The Prime Minister said that Ramadan is approaching, in this regard, the Ministry of Food Security has been directed to bring a Ramadan package without utility stores so that corruption and sale of spoiled goods do not occur.
The Prime Minister said that I had said several months ago that this matter cannot continue with utility stores anymore, the Prime Minister said that last year in Ramadan there were immense complaints regarding utility stores, the solution of which was to bring a minus utility store Ramadan package.
