KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has warned the authorities that inflation above 6pc can hurt the country’s economic growth in post-corona slowdown, adding that a long-term strategy is required to keep the inflation rate in check. In a written statement issued on Saturday, FPCCI President Mian Anjum Nisar said that Pakistan inflation surged to over 9pc in Sept as against stable annual inflation rate of 1.2pc across the world. He said that there is a consensus that a low inflation rate helps economic activities, while high inflation hurts economic growth. Moreover, persistent high inflation also causes erosion of the value of the local currency in terms of foreign currencies. Such uncertainties, in turn, have adverse implications for economic activities.”Anjum Nisar further explained low inflation helps economic agents to predict outcome of their economic decisions with fair level of certainty.

Source: Pakistan Today October 17, 2020 14:48 UTC