PML-N supremo Nawaz Sharif has said he will work to rein in inflation if voted to power in the next general elections, a similar resolve party leader Ishaq Dar made when he took charge as the finance minister in September.

Mr Sharif made these remarks while talking in Dubai to different PML-N delegations from Gulf countries on Sunday, Radio Pakistan reported.

Inflation started rising just months after the PML-N and its allies came to power in April last year through a vote of confidence against former prime minister Imran Khan.

Consumer prices primarily rose as Mr Dar’s predecessor, Miftah Ismail, took unpopular decisions to stick to preconditions set by the International Monetary Fund, including rolling back subsidies made by Mr Khan’s government.

Hammad Azhar says ruling parties have become ‘a symbol of hatred’ among people

When Mr Dar took charge last year, with a promise to bring down the pace of price hikes, inflation had already crossed 27pc in August. “We will control inflation,” he told reporters on Sept 28 in televised comments after he was sworn in.

However, monthly inflation, measured by the Consumer Price Index (CPI) basket of goods and services, continued to rise, crossing 30pc in February after staying in the 20s for five more months. Inflation in May, the latest reading available, hit a record 38pc.

On Sunday, Mr Sharif said his party would overcome all the problems and difficulties faced by the people.

Mr Sharif’s remarks came as PML-N and PPP bigwigs have been holding meetings in the United Arab Emirates against the backdrop of general elections, expected to be held later this year.

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The two sides have reportedly agreed on several issues, including names for the caretaker set-up and a power-sharing formula if the two parties win the elections.

The top leaders from both parties, including Nawaz Sharif and Asif Ali Zardari, met more than once throughout the previous week to decide an election date, among other things.

The meetings were also attended by Prime Minister Shehbaz Sharif, Foreign Minister Bilawal Bhutto-Zardari, PML-N senior vice president Maryam Nawaz Sharif and Law Minister Azam Nazeer Tarar, a source told Dawn.

Meanwhile, Prime Minister’s Coordinator for Economy and Energy Bilal Azhar Kayani said on Sunday the government was committed to putting the country on the path of economic growth and prosperity.

Responding to PTI leader Hammad Azhar’s remarks, he said that after 1952, Pakistan’s economic growth rate had been negative only in 2019-20 under the PTI regime.

The PML-N government had left the growth rate at 6.1pc in 2017-18, but the PTI reduced it to negative 0.94pc till 2019-20, he said.

Earlier, Mr Azhar tweeted that the PDM government brought Pakistan’s economic growth rate from 6pc to negative. Besides, inflation had tripled during this government’s tenure, load-shedding had returned and the industry had collapsed, he said.

“Now there is no hope for them other than undemocratic conspiracies and repression as they [the ruling parties] have become a symbol of hatred among the people,” he said.

Published in Dawn, July 3rd, 2023