Imran Khan slams 'incompetent' govt over rupee depreciation, inflation rise

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Chairman and former prime minister Imran Khan has slammed the ‘incompetent’ government over rupee depreciation and the rise in the inflation rate, ARY News reported on Saturday.

Imran Khan said in a Twitter message that the US dollar stood at Rs178 on March 8, 2022, when the vote of no-confidence was tabled. He said that US dollar has reached Rs250 under the incumbent government.

The former prime  minister said that the inflation stood at 16.5% on March 8, 2022 but it has spiralled  to 38%. Criticising the current rulers, Khan said, “Not only is this imported govt made up of crooks but it is thoroughly incompetent too. Question is who is responsible for this mess?”

8 March 2022 when VoNC tabled $ was at Rs 178. Today it has reached Rs 250. On 8 March 2022 inflation stood at 16.5%;today it has spiralled to 38%. Not only is this Imported govt made up of crooks but it is thoroughly incompetent too. Question is who is responsible for this mess?

— Imran Khan (@ImranKhanPTI) July 30, 2022

Weekly inflation spikes

Yesterday, inflation measured through the Sensitive Price Index (SPI) posted a hefty increase of 3.68 per cent for the week ended on July 28, according to the data released by the Pakistan Bureau of Statistics (PBS).

READ: PSX LOSES 202 POINTS, USD SURGE HALTS AS PKR GAINS 57 PAISAS

The overall inflation rate in the country has reached 37.67 per cent after weekly inflation surged by 3.68 percent driven by a sharp rise in the prices of essential items.

During the week, out of 51 items, prices of 30 items increased 07 items decreased and 14 items remained constant, showed the data issued by the Pakistan Bureau of Statistics.

The weekly inflation spiked by 3.68pc due to an increase in prices of essential items including tomatoes 17.53pc, LPG 7.02pc, pulse masoor 4.18pc, pulse mash 2.87pc, pulse gram 2.46, Pulse Moong (Washed) 2.02pc, Vegetable Ghee (2.5 kg) 1.80pc, Garlic 1.69pc, rice basmati (broken) 1.21pc.

Meanwhile, the electricity charges for quarter 1 (Q1) witnessed an increase of 26.11pc (Rs1.88). Prices of beef, mutton, sugar, milk and potatoes also witnessed an increase, while prices of onion, chicken, flour and eggs decreased.

Last week, the weekly inflation rate dropped to -0.22, however, the annual rate is over 32%.