In response to growing public criticism, Jamaat-e-Islami (JI) agreed on Sunday to stage a nationwide strike against rising electricity rates on September 2, ARY News reported.
Traders, transporters in Pakistan’s Khyber Pakhtunkhwa have rejected the unprecedented increase in prices of petroleum products and have demanded the caretaker prime minister, Anwarul Haq, to withdraw the decision, Dawn reported.
Indian stock indices plunged Thursday morning tracking weak global benchmark US markets, which fell as its central bank Federal Reserve said another hike in interest rate may be needed to tame inflation and bring it to 2 per cent target.
Delhi-NCR [India], August 14: The Reserve Bank of India announced the latest update on Repo rates and mentioned that it would remain stable at 6.5%. After consecutive hikes leaving multiple industries in a fix, this is the third time in a row that the authorities have decided to keep the rat
It is expected that the increase in electricity tariffs per unit could be Pakistani currency (PKR) Rs 3.50–6, which could result in an additional burden of Rs 144.688 billion on the consumers from July 1, 2023.
US Federal Reserve Governor Michelle W Bowman has said an additional interest rate increase will likely be needed to get inflation on a path down to its 2 per cent target.
Following the increase in fuel prices, local transport companies unilaterally increased fares by up to 20 per cent without consulting the authorities, reported ARY News.
The Pakistan Finance Minister, Ishaq Dar, informed about the development that led to the prices of petrol and diesel at Rs 272.95 and Rs 273.40 per litre, respectively.
Launching a strong attack on the Centre over a hike in commodities prices, Congress on Sunday demanded the government to slash the prices of petrol and diesel by 35 per cent.
Owing to the sharp increase in electricity and Liquefied Petroleum Gas prices, the short-term inflation witnessed an year-on-year surge of 29.21 percent for the week ending on July 26, according to the official data release on Friday, reported Dawn.
Karnataka government’s decision to increase the price of Nandini milk by Rs 3 per litre seems to have kicked off a political storm in the state with the opposition BJP attacking the Siddaramiah government, and alleging that the hike would impact household budgets.