ISLAMABAD: Advisor to Prime Minister on Finance Dr Abdul Hafeez Shaikh on Saturday said the government was taking all important steps to control inflation and improve economic growth rate of the country.
Talking to a private news channel, he said the government had minimized overall expenditure, because of which the economy was moving on the right direction.
Expressing concerns over flaws in the policies of the previous governments, Dr Abdul Hafeez Shaikh said time would be required to rectify these policies.
The finance advisor said the stock exchange and foreign direct investment in the country were increasing while exports were also moving up because of better policies and direction set by the government.
He said the Federal Board of Revenue had made improvement in collection of taxes.
On Nov 18, Federal Minister for Railways Sheikh Rasheed had admitted that there was a surge in inflation and unemployment as well as lack of good governance in the country.
On Nov 5, Minister for Economic Affairs Division Muhammad Hammad Azhar on Tuesday told how the inflation in the country had risen.
“We admit that inflation has risen, but why has it grown? It surged because the current account deficit, which we have reduced by 64 percent, was left so huge by the previous government that the national currency was under pressure. We did not have foreign exchange reserves to support our currency,” Hammad Azhar had said while addressing a news conference.