Prime Minister Muhammad Shehbaz Sharif has said right-sizing policy is being implemented as part of economic reforms agenda of the government. In a statement, he expressed satisfaction over significant decline in inflation rate in the country as shown by indicators of Pakistan Bureau of Statistics. Shehbaz Sharif said that 'Consumer Price Index' fell to record low in July 2024, bringing inflation to 11 percent. He welcomed the forecast of economists regarding further decline in inflation in the current month. The Prime Minister said prudent policies of the government and hard work done by its team have steered the country's economy towards stability. He said upgrading of Pakistan's credit rating first by Fitch and then Moody's is an acknowledgement of country's positive economic indicators by international financial institutions. He expressed the confidence that its positive impact on the economy would be visible soon. The prime minister also said that the federal and Punjab governments provided a big relief to the electricity consumers in respect of monthly bills and prices of petroleum products have also been reduced as well.

Credit: Independent News Pakistan