The inflation has significantly reduced which will have relieving impact on masses, especially the poor.

This was stated by Advisor to Finance Minister on Economic and Financial Reforms Khurram Shehzad in a statement today (Thursday).

He said CPI inflation is at seventy-eight month low and food inflation also came down last month followed by higher potential for rate cuts.

The Advisor said the latest developments will have positive outcomes for businesses, industries and the government debt servicing and the overall fiscal balances.

He said Pakistan's Trade Deficit for the last month was at 1.6 billion dollars which is down by 19 percent on Year-on-Year basis. The exports have consistently gone up by nine percent and imports are downed by three percent on Year-on-Year basis in the last month.

He said oil prices slashed by one point five percent and the parity between Pakistani rupees and US dollar improved to 277.9.

Khurram Shehzad noted that PIA and another private sector Pakistani airline were allowed to resume their operations to Europe as a result of consistent efforts of the government.