Pakistan monthly inflation rises to 20.68 percent year on year — statistics bureau

A Pakistani man counts Pakistan's rupees at his shop in Karachi on May 16, 2019. (AFP/File)
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Updated 01 April 2024
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Pakistan monthly inflation rises to 20.68 percent year on year — statistics bureau

  • Commodities that recorded an increase included tomatoes, onions, spices, sugar, wheat flour and meat
  • Monthly inflation for March registered a 1.71 percent increase when compared to the month of February

ISLAMABAD: Pakistan’s Consumer Price Index (CPI) increased to 20.68 percent in March on a year-on-year basis, the Pakistan Bureau of Statistics (PBS) data showed on Monday.

Top commodities that varied from corresponding month of the previous year included tomatoes (188.44 percent), onions (84.06 percent), fresh vegetables (55.31 percent), condiments and spices (49.08 percent), sugar (37.29 percent), wheat flour (32.68 percent), beverages (27.69 percent) and meat (22.42 percent).

The commodities that recorded a decrease in prices were cooking oil (22.59 percent), vegetable ghee (20.13 percent), mustard oil (15.78 percent), fresh fruits (4.15 percent) and gram flour (0.68 percent).

“CPI National for the month of March, 2024 increased to 20.68 percent over March, 2023,” the PBS said in its monthly survey.

Monthly inflation for March registered a 1.71 percent increase from the previous month.

The non-food commodities that recorded an increase in prices over the past month included electricity (5.11 percent), tailoring (3.13 percent), liquified hydrocarbons (2.90 percent), readymade garments (2.22 percent), motor fuel (1.70 percent), and drugs and medicines (1.19 percent).

Last month, Pakistan’s central bank held its key interest rate at 22 percent for the sixth straight policy meeting as inflation risks continued to loom. The decision was in line with expectations of a majority of analysts, although most were also expecting rate cuts from the second quarter of this year.

The bank said that although the inflation rate had eased in February, it remained high and was subject to risks.

Pakistan’s key rate was last raised in June to fight persistent inflationary pressures and to meet one of the conditions set by the International Monetary Fund for a critical $3 billion bailout program that expires this month.


Pakistan parliament demands national response against ‘external sponsors’ of terror after Balochistan attacks

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Pakistan parliament demands national response against ‘external sponsors’ of terror after Balochistan attacks

ISLAMABAD: Pakistan’s National Assembly adopted a resolution on Tuesday condemning recent militant attacks in the southwestern Balochistan province, calling for an immediate national response against “external sponsors” of terror in the country. 

Separatist militants launched coordinated gun and bomb attacks across multiple districts in Balochistan on Friday and Saturday, targeting security installations and government facilities. Pakistan’s State Minister for Interior Tallal Chaudry said 50 people were killed in the attacks, which included 33 civilians and 17 law enforcement personnel. Meanwhile, Pakistan’s state media said on Monday that security forces have killed 177 militants since Friday. 

Pakistan’s Interior Minister Mohsin Naqvi said last week that the militant attacks, which were claimed by the separatist Baloch Liberation Army, were planned by India. New Delhi denied the allegations as “baseless,” saying it was an attempt by Islamabad to deflect from its internal failings. Pakistan regularly accuses India of funding militants in its Balochistan and northwestern Khyber Pakhtunkhwa provinces, charges New Delhi has always denied. 

The resolution, tabled by Minister for Parliamentary Affairs Dr. Tariq Fazal Chaudhry, said that in several militant attacks, evidence has shed light on the “external patronage” of militants and drawn attention to “serious concerns, particularly regarding the role of India.”

“This house demands that an immediate, comprehensive, coordinated and multi-dimensional national response be ensured against these external sponsors and internal facilitators, including funding, smuggling, and propaganda networks, bringing together the political, diplomatic, military, intelligence, legal and narrative fronts,” a copy of the resolution seen by Arab News stated. 

 

 

The resolution said “terrorism” in Pakistan is being facilitated through logistical and operational support, financial assistance, training, medical treatment and propaganda networks by certain neighboring countries. 

It expressed solidarity with the victims and relatives of the Balochistan attacks, praising Pakistan’s security forces for taking effective action against militants. The resolution also expressed concern over militant networks using women in the attacks. 

“This house expresses profound grief, sorrow, and concern over the fact that terrorist networks are attempting to exploit women and use them against the state and society through coercion, psychological pressure and blackmail,” it said. 

The resolution called for national unity and rising above political differences. It vowed that the state will not compromise on the protection of its people and national security. 

Balochistan, Pakistan’s largest province by land area, has long been gripped by a separatist insurgency that has intensified in recent years. Militants frequently target security forces, government officials, infrastructure projects, foreigners and non-local workers in the area.

Balochistan is home to vast reserves of minerals and hydrocarbons, and also to the multibillion-dollar China-Pakistan Economic Corridor (CPEC), a flagship component of China’s Belt and Road Initiative.

Separatist militant groups such as the BLA blame Islamabad for exploiting Balochistan’s natural resources and denying locals a share in them. The military and civilian government reject these allegations and say they are investing in the province’s development.