Finance Minister reaffirms commitment to end boom bust cycles in country

Finance Minister Miftah Ismail has reaffirmed the government’s commitment to end the boom bust cycles in the country.

In an interview with Bloomberg, he said Pakistan’s imports need to be equal to the dollar inflow from exports and from remittances provided by citizens living abroad.

The Finance Minister said with limited availability of dollars, the government will prefer to import necessary edible things instead of luxury items.

He said nothing can happen in one year but at least we can take a start.

Miftah Ismail said historic floods in the country have an economic impact of at least ten billion dollars.

He said inflation, running at the highest in 47 years is close to its peak and will average 15 percent for the year.

The Finance Minister said vegetable prices have already started to come down after shooting higher following the floods.