External sector crisis under control

Pakistan's central bank Governor, Jameel Ahmad, announced on Wednesday that inflation might surge in the coming months due to budgetary measures, rising energy prices, and the ongoing situation in the Middle East. However, he assured that the foreign debt repayment crisis is now over. He further stated that Pakistan's foreign exchange reserves cover remains below the minimum threshold, standing at just 1.6 months' worth of imports, despite the reserves doubling in the past year. In a policy statement before the National Assembly Standing Committee on Finance, Ahmad said that despite some upcoming developments that could spike prices, inflation may remain in the range of 11.5% to 13.5%. The Pakistan Peoples Party (PPP)'s Syed Naveed Qamar chaired the meeting.