IMF, govt agree to revise inflation target to 15 percent

 ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have decided to revise the inflation target to 15 percent from 13.5 percent for the current fiscal year in the wake of rise in commodities’ prices and electricity tariff, The News has learnt.

The inflation target was fixed at 9.5 percent in the budget and later revised to 13.5 percent.
Federal Public Sector Development Programme (PSDP) has been slashed to Rs150 billion from Rs 280 billion. Both sides have also agreed to cut the provincial annual development programmes by 50 percent.

Inflation touches record 20.68pc in a week

ISLAMABAD: The inflation rate, during the last week which ended on October 14, was up record 20.68 percent comparing to the corresponding week last year, Geo News reported Monday evening.

According to the calculations of Federal Bureau of Statistics, the last week, ended on October 14, witnessed rise in inflation rate by 20.68 percent more than how it was observed during the same period last year.

The Sensitive Price Indicator (SPI) for the week ended on October 14 for the lowest income group up to Rs.3,000, has registered increase of 0.88 percent over the previous week.