ISLAMABAD – The inflation rate for the fiscal year 2024-25 stood at 4.5 percent, significantly down from 23.4% recorded during the previous year.
The Chief Statistician told in a meeting chaired by Federal Minister for Planning, Development & Special Initiatives, Ahsan Iqbal, to review the inflationary trends and pricing mechanism across the country.
The meeting was also attended by the Chief Economist, senior officials from the Ministry of Food and Agriculture, and representatives from relevant federal and provincial departments.
Minister Ahsan Iqbal highlighted this as the lowest inflation rate in the past nine years, reflecting the government’s effective policy interventions and improved supply-side management.
In urban areas, food inflation was recorded at 4.2%, compared to 6.2% last year. However, supply chain disruptions due to highway closures in Sindh were noted as a contributing factor in localized price fluctuations.
The meeting was informed that prices of several essential items, including LPG, bananas, mustard oil, chickpeas, and moong dal, have decreased. However, sugar prices have surged, reaching nearly Rs. 190 per kilogram in most cities. The country has witnessed a decline in sugar production this year, with output falling to 5.8 million tons from 6.8 million tons. In response, the Ministry of Food has decided to import 5 lakh tons of sugar to stabilize the market.
Minister Ahsan Iqbal emphasized the importance of effective monitoring through the Price Scorecard system. He highlighted during the meeting that the Chief Secretary of Khyber Pakhtunkhwa accessed the system 114 times, while Sindh accessed it only 10 times, Punjab 6 times, and Balochistan did not log in at all. Among Deputy Commissioners, Islamabad logged in 27 times, Karachi 6 times, and Quetta 4 times. The Minister expressed concern over the underutilization of the Price Scorecard by provincial administrations.
To improve monitoring, the Minister directed the Pakistan Bureau of Statistics (PBS) to provide login reports to Chief Secretaries on a monthly basis. He further directed all Deputy Commissioners to compare wholesale and retail prices regularly and take corrective action where necessary. Provincial governments were urged to actively supervise and support this process.
Minister Ahsan Iqbal also called for the development of an advance supply and demand plan for the upcoming Ramadan to avoid shortages and price hikes. He appreciated the stability in food prices during Eid-ul-Azha and stressed the need to maintain this momentum through coordinated efforts among federal and provincial stakeholders.
