The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday cautioned the authorities that inflation rate above 6% can deter economic growth during the post-corona period and stressed the need for a careful strategy to keep inflation in control. In a statement, FPCCI President Mian Anjum Nisar said inflation was recorded at over 9% in September against a stable annual inflation rate of 1.2% across the world amidst dropping food and energy prices. Nisar stated that there was a consensus that a low inflation rate aided economic activities while high inflation hurt economic growth. Such uncertainties, in turn, have adverse implications for economic activities.”The FPCCI chief said low inflation helped economic agents to predict the outcome of their economic decisions with a fair level of certainty. He urged the government to come up with an out-of-the-box solution to expedite economic activities in the country.

Source: The Express Tribune October 18, 2020 03:33 UTC