Inflation in Pakistan stands at 21.3%, highest in 13 years – Times of India

ISLAMABAD: Inflation in Pakistan rose to 21.3% in June, the highest since December 2008 when inflation stood at 23.3%.
In May, it was 13.7%, as measured by the country’s Consumer Price Index. According to the Pakistan Bureau of Statistics, inflation has increased by 19.8% in urban areas and 23.5% in rural areas.
Pakistan’s Shehbaz Sharif-led government has increased prices of all petroleum products by about Rs 14-19 per litre with immediate effect from Friday to fulfil commitments to the IMF for the revival of a $6-billion bailout package.
According to the finance ministry’s notification, the government imposed a Rs 10 (Pakistani rupee) per litre petroleum levy on petrol and Rs 5 each on high-speed diesel (HSD), kerosene and light diesel oil (LDO). The price of petrol now stands at Rs 248.7 per litre, HSD at Rs 276.5, kerosene at Rs 230.2, and LDO at Rs 226.1. The government has been increasing petroleum prices since May 15 under the IMF deal. Since May 26, the prices of petrol, HSD, kerosene and LDO, have increased, respectively, by 66% (or Rs 99), 92% (132.39), 95% (Rs 111.95) and 80% (Rs 100.59).The government has also given an assurance to the IMF that it will gradually increase the petroleum levy on all products by Rs 5 per litre every month to a maximum of Rs 50 per litre, and that the price of liquefied petroleum gas (LPG) will be gradually increased to Rs 30,000 per tonne from existing rate of Rs 4,670 per tonne.
In yet another setback, the National Information Technology Board said, “Telecom operators have warned about shutting down mobile and internet services due to long hours of power outages.” Sharif said on Friday that it was a “very difficult challenge” for the government to control load-shedding and slammed the previous Imran Khan-led government for not securing cheap gas.

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