Wednesday Jul 31 2019

Inflation to peak over next four months before declining: Asad Umar


ISLAMABAD: National Assembly’s Standing Committee on Finance Chairman Asad Umar said that the rate of inflation will remain high over the next two to four months, before it begins to decline.

The former finance minister was speaking to Geo News programme ‘ Aaj Shahzeb Khanzada Kay Saath’.

Umar said that during his tenure as the finance minister, he advised Prime Minister Imran Khan about the options, including the one on not approaching the International Monetary Fund.

Asad Umar said that all the experts on finance suggested that the government will have to approach the IMF to alleviate the economy.

“Imran Khan is the team’s captain, so he thought a batsman should be sent who can score centuries… As for now, Hafeez Sheikh has only delivered two balls,” said the former finance minister.

Umar said that the prime minister knows that whether he is in the cabinet or not, he is an integral part of the Pakistan Tehreek-e-Insaf team.

The chairman of the NA’s Standing Committee on Finance said that he told the Competition Commission of Pakistan to inquire rise in prices of five consumable items including sugar.