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PM seeks to tame high inflation with fuel price cuts

Pakistan looks to tame high inflation with fuel price cuts

The South Asian country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme approved by the International Monetary Fund in July averted a sovereign debt default, but with conditions that complicated efforts to control inflation

Pakistan looks to tame high inflation with fuel price cuts

The Pakistani government is looking to tame inflation with fuel price cuts and a price-control mechanism, caretaker Prime Minister Anwaar ul Haq Kakar said on Monday. The South Asian country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme approved by the International Monetary Fund in July averted a sovereign debt default, but with conditions that complicated efforts to control inflation. "Consequent to substantial reduction in fuel prices, I have directed the concerned authorities at Federal and Provincial level to activate a strict price control mechanism," Kakar said in a post on X, formerly known as Twitter.

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