PTI’s four finance ministers and the inflation trend

The PTI-led government has appointed Shaukat Tarin as an adviser to the prime minister on finance, as his six-month tenure as finance minister ended. This takes the count of finance ministers to four during the three years of the Pakistan Tehreek-e-Insaaf government.

The inflation rate has consistently risen when Asad Umar, Dr Abdul Hafeez Sheikh and Shaukat Tarin held the portfolio.

Asad Umar chaired the finance ministry for nine months – between August 2018 and April 2019. The inflation rate increased from 5.8% to 8.3%. Petrol prices increased up by Rs3.64 per liter, while sugar prices shot up by Rs11 per kg.

The responsibility was then handed over to Dr Abdul Hafeez Sheikh. He was appointed as the finance minister in April last year and chaired till March this year. The inflation rate was recorded at 14.6%. Petrol prices were up by Rs13 per liter. Ghee was priced doubled from 150 to Rs300 per kilogram.

Hammad Azhar chaired the finance ministry for only a month.

Shaukat Tarin was appointed Pakistan’s fourth finance minister in April this year. The inflation rate was recorded between 9% and 11%. Petrol prices were shot up by Rs29.23 a liter, taking it to the record high of Rs137.79 per liter.

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