Islamabad – As the USC wants to help its customers get relief from increasing sugar prices, the utility stores have announced reducing sugar price to an all-time low of Rs140 from the existing price of Rs153 per kg. However, it reduced the sugar price by Rs130
This decline is accompanied by a year of declining inflation and optimism in the economy. According to the International Monetary Fund’s report, World Economic Outlook for 2024, Pakistan is showing improvement after three years of underwhelming performance when its inflation is expected to fall, and the growth rate will pick up. Pakistan’s growth rate for outgoing fiscal year is projected at 3.2% as compared to that of 2.4% recorded last year, shows the report.
Decreasing Inflation The IMF’s report projects a fall in inflation with an average of 9.5% inflation for this year, lower than the 23.4% experienced in the last year. For the fiscal year, it is projected that the rate of inflation will stay below the targeted 12% while annual inflation will still stand at 10.6%. Unemployment also would go down to 7.5% against last fiscal year’s figure at 8%.
