Pakistan has become a net importer of food, Finance Minister Shaukat Tarin has told the National Assembly. He told the house that there was an 11 percent price hike and 13 percent food inflation in the country.

“The food inflation is because you have now become a net importer of food. You don’t have wheat. You don’t have sugar. I was surprised when during a meeting of the Price Control Committee I came to know that we are importing 70 percent pulses, which is a staple food,” said the minister.

He said international food prices were now at the highest level in the last 10 years.

Tarin admitted that the Pakistan Tehreek-e-Insaf (PTI) government had to increase the discount rate and tariffs and devalue the currency on the suggestion from the International Monetary Fund (IMF), but said it was due to bad policies of previous governments that they had to approach the IMF.

(SAM)