Federal Minister for Finance and Revenue, Muhammad Aurangzeb, on Wednesday provided a comprehensive overview of the economic landscape.

He underscored the government’s consistent efforts to implement policies aimed at bolstering economic stability and ensuring sustainable growth.

Chairing the meeting of the Economic Coordination Committee (ECC), the Minister also highlighted the progress made towards economic stability, the continued improvement in various economic sectors, and the government’s firm resolve to maintain and accelerate this momentum.

He emphasized that the positive trends observed in economic indicators reflect the effectiveness of the government’s targeted measures and commitment to steering the country towards greater prosperity.

A key highlight of the meeting was the presentation of the most recent Consumer Price Index (CPI) data, which recorded a significant drop to 4.9% in November 2024. This represents the lowest level of inflation since April 2018, when CPI stood at 3.96%.

The current CPI figure marks the lowest in the past 78 months, signaling a positive shift in the country’s inflationary trends. The decline in CPI reflects the government’s success in managing inflationary pressures and restoring price stability, particularly for essential commodities.

The ECC was also briefed on the substantial reduction in the prices of several essential goods and services. Among the items that have seen price drops are wheat flour, chillies powder, diesel, petrol, pulses, onions, basmati rice, electricity charges, sugar, plain bread, tea, soap, chicken, eggs, tomatoes, garlic, firewood, and salt.

These reductions are seen as critical measures that have eased the financial burden on the common man and strengthened the purchasing power of the population.

The Minister reiterated that the government remains fully committed to ensuring that the positive trajectory of the economy continues.

He emphasized that the government’s fiscal policies, including effective management of public finances, trade, and energy sectors, have contributed significantly to the improvement in these indicators.

The Minister also reassured the public and business community that the government would remain focused on addressing inflation, stabilizing the currency, and improving domestic production.

During the meeting, it was noted that while the country is experiencing a period of economic stability, continued efforts are required to maintain this progress.

The government plans to enhance economic diversification, invest in key sectors like agriculture, manufacturing, and infrastructure, and pursue reforms to strengthen the financial system.

The ECC also acknowledged the critical role of public-private partnerships in achieving long-term economic growth and job creation.

The meeting reaffirmed the government’s commitment to ongoing reforms and stabilization measures aimed at ensuring economic growth and improving the living standards of the people.

The ECC will continue to closely monitor developments and take proactive steps to safeguard economic stability and foster sustainable growth.

The Finance Minister expressed optimism that the progress made so far would serve as a foundation for future successes, as the government remains dedicated to building a prosperous and stable Pakistan.