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Inflation in Pakistan stands at 21.3%, the highest in 13 years

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ISLAMABAD: Inflation in Pakistan rose to 21.3% in June, the highest since December 2008, when inflation was 23.3%.
In May, it was 13.7%, measured by the country’s consumer price index. According to the Pakistan Bureau of Statistics, inflation in urban areas has increased by 19.8% and in rural areas by 23.5%.
The Shehbaz Sharif-led government of Pakistan has immediately increased the prices of all petroleum products by about Rs 14-19 per liter from Friday to meet commitments to the IMF to revive a $6 billion bailout package.
According to the Ministry of Finance notification, the government has imposed a levy of Rs 10 (Pakistani Rupee) per liter of petroleum levy on petrol and Rs 5 each on High Speed ​​Diesel (HSD), kerosene and light diesel (LDO). The price of petrol now stands at Rs 248.7 per litre, HSD at Rs 276.5, kerosene at Rs 230.2, and I WANT at Rs 226.1. The government has been raising oil prices since May 15 as part of the IMF deal. Since May 26, the prices of gasoline, HSD, kerosene and LDO have increased by 66% (or Rs 99), 92% (132.39), 95% (Rs 111.95) and 80% (Rs 100.59) respectively . The government has also assured the IMF that it will gradually increase the petroleum tax on all products by Rs 5 per liter per month to a maximum of Rs 50 per liter, and that the price of liquefied petroleum gas (LPG) will gradually increase. increased to Rs 30,000 per tonne from the existing rate of Rs 4,670 per tonne.
In yet another setback, the National Information Technology Board said, “Telecom operators have warned against shutting down mobile and internet services due to long hours of power outages.” Sharif Friday said it was a “very difficult challenge” for the government to control the cargo jettison and rebuked the previous Imran Khan-led government for failing to secure cheap gas.

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