Hafsa Mustafa Posted in Politics
Prime Minister Shehbaz Sharif has announced that the government intends to reduce petrol prices substantially after oil prices retreated following a US-Iran peace deal. "We had promised that we would bring the price of petroleum products down and repay each penny to the people," he said during his address to the National Assembly in Islamabad on Friday. Read More…
0 CommentsHafsa Mustafa Posted in Politics
The federal government slashed the prices of petroleum products ‘as a gift’ to the people on the eve of Independence Day. The price of petrol has been reduced by Rs 8.47 to Rs 260.96 per litre. High-speed diesel has been reduced by Rs 6.07 per litre, making the new price Rs 266.07 per litre. Earlier in the day, it was reported that the prices of petrol and diesel in Pakistan would be decreased by Rs 11 and Rs 7 per litre respectively. Read More…
0 CommentsHafsa Mustafa Posted in Business
The federal government on Tuesday slashed the prices of petrol by up to Rs 5 per litre, effective from March 1, 2022. In a televised address to nation, Finance Minister Ishaq Dar said that the federal government has slashed petrol prices by Rs 5 per liter, reducing it to Rs 267 per liter from existing Rs 272 per liter. Read More…
0 CommentsHafsa Mustafa Posted in Business
A petition was filed in the Lahore High Court (LHC), challenging the recent hike in prices of petroleum products. The petition has been filed by a citizen named Munir Ahmed through his lawyer Advocate Azhar Siddique. He stated that the federal government has jacked up the prices of petroleum products which would lead to a further rise in inflation. Read More…
0 CommentsHafsa Mustafa Posted in Business
Following a massive hike in petrol and diesel prices, the public transporters announced 10 per cent increase in intercity fares. In a statement issued by All-Pakistan Public Transport Owners Federation (APPTOF), the spokesperson said that the participants of the federation opined that a considerable increase in diesel prices would destroy the transport system across the country. Read More…
0 CommentsHafsa Mustafa Posted in Politics
Islamabad: Petroleum products' prices remained unchanged effective from November 16, Finance Minister Ishaq Dar announced on Tuesday. The price of petrol remained unchanged at Rs. 224.80 per litre, high-speed diesel at Rs. 235.30 per litre, and light diesel oil is Rs. 191.83 per litre. The government last slashed the price of petrol on September 30 by Rs12.63 per litre, giving massive relief to the inflation-stricken people of Pakistan. Read More…
0 CommentsAlina Hashmi Posted in World
Washington: The International Monetary Fund (IMF) has warned against protests and instability in Pakistan amid rising inflation. "High food and fuel prices could prompt social protest and instability," the IMF said, in an executive summary of the seventh and eighth reviews, released under the Extended Fund Facility (EFF). Pakistan’s inflation measured by the consumer price index (CPI) has hit a 47-year high, accelerating to 27.3% in August 2022, the level last seen in May 1975. Read More…
0 CommentsAlina Hashmi Posted in Uncategorized
Islamabad: Finance Minister Miftah Ismail defended on Tuesday the federal government's decision to hike the price of petrol after backlash from his party's supremo Nawaz Sharif and a strong coalition partner. The government increased the price of petrol by Rs6.72 per litre for the next fortnight, taking it to 233.91 per litre, while the rate of diesel was also moved up to 244.44 per litre. "I had never said that I will not increase the price of petrol, I had stated that I will not be imposing taxes further," Ismail… Read More…
0 CommentsAlina Hashmi Posted in Politics
On Thursday, Prime Minister Shehbaz Sharif defended the petrol price hike, saying that the government was "left with no choice" because of "those who struck the worst ever deal" with the International Monetary Fund (IMF). "Govt is left with no choice but to raise the prices due to IMF deal that PTI govt signed," he said, promising that he would take nation into confidence on the specifics of PTI-IMF deal soon. Read More…
0 CommentsAlina Hashmi Posted in Politics
On June 7, Finance Minister Miftah Ismail rubbished the rumours of a hike in petrol prices. He said that there would be no increase in prices today, adding that there was no plan or summary for this purpose. "In the pre-budget seminar, I never even spoke about petroleum prices. Channels running these tickers are doing a disservice to their viewers," he said, referring to the speech he gave earlier today at the huddle organized by the government. Read More…
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