Now Petrol bomb
ISLAMABAD: Just a week before quitting, the government exploded the petrol bomb on Tuesday. Finance Minister Ishaq Dar announced a Rs 20 per liter increase in the prices of petrol and diesel from today.
Dar did not forget to mention that the government took this step in line with “national interests.” Below are the new prices of petrol and diesel.
| Product | Existing prices w.e.f 16.07.2023 | New prices w.e.f 01.08.2023 | Change |
| Petrol | Rs253 | Rs272.95 | Rs19.95 |
| Diesel | Rs253.50 | Rs273.40 | Rs19.90 |
The government delayed the announcement of an increase in the rates of petrol. Originally the government was supposed to announce it on the night of July 31. However, Ishaq Dar made the announcement on Tuesday morning that too in the national interest.
Motorists are buying expensive petrol after the government exploded a petrol bomb on Tuesday.
Dar stated that the price hike was inevitable.
He explained that Pakistan had agreed with the IMF on imposing a petroleum development levy on the rates.
Weekly Inflation further increases in July
Meanwhile, the Pakistan Bureau of Statistics reported a three percent surge in the weekly inflation rate.
Many essential commodities experienced a sharp upward trend in prices in the third week of July 2023.
Economists and policymakers raised concerns as the inflation rate on an annual basis reached a staggering 29.21%.
During the previous week, the prices of 20 essential commodities significantly increased, impacting the daily lives of citizens.
For instance, sugar prices surged from 135 to 160 rupees per kg in different cities. Similarly, the cost of live broiler chicken surged to an astonishing Rs580 per kg. It amounts to 60% increase from the previous week’s Rs361 per kg.
Other household staples like eggs, tomatoes, chilies, garlic, potatoes, onions, and jaggery faced notable price hikes, squeezing the budgets of consumers.
Utility costs, including electricity and LPG rates, also saw an increase.
