ADD ANI AS A TRUSTED SOURCE
googleads
ANI Logo
Menu
Asia

Pak inflation hits double digit mark in July

Islamabad [Pakistan], Aug 2 (ANI): Inflation in Pakistan entered the double-digit mark in July, the biggest surge in nearly six years.

ANI Aug 02, 2019 15:15 IST googleads

Pakistan flag

Islamabad [Pakistan], Aug 2 (ANI): Inflation in Pakistan entered the double-digit mark in July, the biggest surge in nearly six years.
Inflation, measured by the Consumer Price Index (CPI), rose to 10.34 per cent in July from 8.9 per cent the previous month, Dawn reported quoting the Pakistan Bureau of Statistics.
In July last year, inflation stood at 5.84 per cent.
The hike in prices of petroleum products over the past few months, followed by an increase in electricity and gas tariffs fuelled the total inflation.
The government has projected an inflation target of 11 per cent to 13 per cent for fiscal 2019-20 compared to 2018-19.
The prices of petrol and diesel were on Wednesday increased by Pakistan Rs 5.15 per litre and Rs 5.65 per litre respectively. While petrol will cost Rs 117.83 a litre, a litre of diesel will be Rs 132.4, Geo News reported.
Apart from the hike in petrol and diesel prices, kerosene oil and light diesel have now become costlier by Rs 5.38 and Rs 8.90. The new prices for kerosene and light diesel are Rs 132.47 and Rs 103.84 respectively.
The government has also ordered a rollback of the prices of 'naan' and 'roti'. Currently, the rates of naan are ranging between Rs 12 to Rs 15 in different cities, while roti is available at Rs 10 to Rs 12 a piece.
The new rates are expected to be substantially lower than the current ones.
As Pakistan continues to battle a ballooning balance-of-payment crisis, several countries including China and Qatar, have provided bailout packages to the country.
The International Monetary Fund approved a bailout package of USD 6 billion for Pakistan in May. Earlier this month, Islamabad received USD 991.4 million, the first tranche of the loan from the global moneylender. (ANI)

Get the App

What to Read Next

Europe

Blasphemy laws in Pakistan target religious minorities: GHRD

Blasphemy laws in Pakistan target religious minorities: GHRD

At the 61st session of the United Nations Human Rights Council, the organisation Global Human Rights Defence (GHRD) raised concerns over the continued misuse of blasphemy laws in Pakistan and their impact on religious minorities.

Read More
Asia

MEA rejects Pakistan’s statement on India-Canada deal

MEA rejects Pakistan’s statement on India-Canada deal

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

Read More
Asia

India rejects Pakistan's "baseless allegations"

India rejects Pakistan's

India on Thursday rejected Pakistan's allegations of aggravating skirmishes with Afghanistan, calling them "baseless" and accusing Pakistan of blaming others for its own misdeeds.

Read More
Asia

Policy delays leave Pakistan short of critical medicines

Policy delays leave Pakistan short of critical medicines

Pakistan faces a severe shortage of life-saving medicines, including cancer drugs and vaccines, due to government delays in notifying official prices. While global supply remains stable, regulatory hurdles have stalled legal imports, raising concerns over patient survival and the potential rise of unregulated, counterfeit medicines.

Read More
Asia

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan’s outdated mandi system stifles agricultural innovation

Pakistan's fruit and vegetable supply remains dominated by traditional middlemen and the "mandi" system, with digital platforms handling only 2-3% of trade. Restrictive provincial laws and lack of infrastructure force farmers into dependency on commission agents, stalling modern technological transformation in the agricultural sector.

Read More
Asia

Hardships grow as Pakistan tightens its grip in Balochistan 

Hardships grow as Pakistan tightens its grip in Balochistan 

Residents in Balochistan's Zehri and Surab regions are facing a severe humanitarian crisis due to a four-day curfew and military operations. The Baloch Yakjehti Committee reported acute food shortages, blocked healthcare access, and alleged house raids by security forces, urging international bodies to investigate these fundamental rights violations.

Read More
Asia

India’s Consul General meets Ant Group to boost tech ties

India’s Consul General meets Ant Group to boost tech ties

India's Consul General in Shanghai, Pratik Mathur, met Ant Group leadership to discuss fintech and digital economy opportunities. This follows high-level engagements with Shanghai's Mayor, aligned with Prime Minister Narendra Modi's "Reform, Perform and Transform" mantra to strengthen bilateral and multilateral cooperation through the SCO and BRICS.

Read More
US

US taps 172m oil barrels as Trump vows to "finish the job"

US taps 172m oil barrels as Trump vows to

The US will release 172 million barrels of oil "beginning next week" to stabilse markets amid war with Iran. President Trump vowed to "finish the job" despite Tehran's threats to "destroy" the economy. While Trump suggests there is "practically nothing left to target," Israel claims it has "a broad bank of targets."

Read More
Asia

War must end": Former Maldives President on West Asia conflict 

War must end

Speaking to ANI, Nasheed said the conflict could disrupt the country's fragile economic stability. "Tourist arrivals have come down. So that is going to have a very big impact on our economy and the prosperity of the people. So, yes, it is very, very difficult," he added.

Read More
Asia

PoJK activist slams Pakistan’s aggression against Afghanistan

PoJK activist slams Pakistan’s aggression against Afghanistan

In a video statement, Mirza argued that the current situation between Pakistan and Afghanistan should be examined through the framework of international law, particularly the principles upheld by the United Nations.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.