Nine-year high inflation a serious threat to stagnant economy: BMP

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Karachi

The Businessmen Panel (BMP) of the Federation of Pakistan Chambers of Commerce and Industry has stressed the need for reducing cost of doing business, besides evolving a new price control mechanism, as huge taxation, rising oil prices and constant jump in electricity and gas tariffs have lifted the inflation to nine-year high level to 12.7 percent in November.
BMP Chairman Mian Anjum Nisar warned the authorities that inflation above 6 percent can hurt economic growth and a careful policy is required to keep it in control. He said that the pace of inflation is skyrocketing at a time when the economic activity is slowing down.—INP