Tag: inflation

  • Petrol, diesel prices set to increase again by Rs10 in February

    Petrol, diesel prices set to increase again by Rs10 in February

    The government is likely to increase the prices of petroleum products by Rs10 for the next month in line with the rising rates in the international market, according to Geo News’ sources.

    The price of petrol will move up by Rs7 per litre while the rate of diesel will increase by Rs10 per litre. The existing price of petrol is Rs147.83 and diesel costs around Rs144.

    However, the official announcement is yet to be made but as per the news outlet, the final decision will be made on January 30.

    Previously, an increase of Rs3 in petroleum products was implemented on January 16.

    Despite growing inflation in the country, for the ease of public, the government has planned to launch Ehsaas Petrol Cards for motorcyclists to enable them to buy petrol at a subsidised rate.

  • After iPhones, car prices also increase as govt imposes new taxes

    After iPhones, car prices also increase as govt imposes new taxes

    The Sindh Excise and Taxation Department has issued a notification on Friday regarding the increase in the tax on vehicles with higher engine capacity.

    According to the notification, the tax on cars over 1,000cc has been increased to Rs100,000 from the existing Rs50,000. People who buy vehicles ranging between 1,001cc to 2,000cc will have to pay Rs200,000 tax compared to the existing Rs100,000 while those of 2,001cc and above will pay Rs400,000 in taxes.

    Some of the revised car prices, as per ARY News, are:

    Suzuki Alto VX price has been increased by Rs 32,000. Now it costs around 13 lac.

    Suzuki Alto VXL price has been increased by Rs 43,000. The current price stands around Rs17 lac.

    Suzuki Cultus VXR price has been increased by Rs126,000. The vehicle now costs about Rs20 lac.

    Suzuki Cultus VXL price has been increased by Rs139,000. The price has gone around Rs2,244,000 (22 lac, 40 thousand).

    Corolla Altis Grande X CVT 1.8 B price has been increased by Rs100,000. The new price is Rs4.2 million.

    The manual version of Corolla Altis X 1.6 price has been increased by Rs81,000. Its new price is Rs3.38 million.

    The price of Fortuner 2.7 G has been increased by Rs390,000. The SUV is now available at Rs8.56 million.

    The price of Fortuner Legender Diesel saw the highest increase of Rs493,000 (4 lac and 93 thousand). This vehicle will now cost around Rs10.84 million.

    The price of the Hyundai Elantra has seen an increase of Rs4lac. The vehicle now costs around Rs44 lac.

    Apart from cars, iPhones from abroad are now being subjected to 17% sales tax instead of a fixed sales tax.

  • ‘If I am forced out of the office, I will be more dangerous’: PM Khan

    ‘If I am forced out of the office, I will be more dangerous’: PM Khan

    Prime Minister (PM) Imran Khan on Sunday warned the Opposition said, “If I exit the government, I will pose a greater threat to you. Right now, I am sitting quietly in my office and watching the drama unfold. But if I take to the streets, you will have nowhere to hide.”

    PM Khan’s remarks came while answering callers’ questions, during the telecast of the fifth ‘Aap Ka Wazir Azam Aap Ke Sath’, a town-hall-style broadcast where the premier takes questions from the public and responds back to their queries.

    ‘I am waiting for you [Nawaz Shahrif]… please come back’: Khan

    PM Khan called on former PM Nawaz Sharif to come back to face the cases against him, saying: “I am waiting for you… please come back.”

    ‘I do not consider Shehbaz Sharif an Opposition leader, he is a criminal’: PM Khan

    PM Khan lashing out at the Pakistan Muslim League-Nawaz (PML-N) leadership, said that he was willing to talk to the Tehreek-i-Labbaik Pakistan (TLP), but he would never sit down with Opposition leader Shehbaz Sharif — even for dialogue on key national issues.

    “The office of the Opposition leader has respect, but I do not consider him (Shehbaz Sharif) an Opposition leader, rather he is someone who has committed serious crimes against the country,” he said.

    ‘My party will complete its current term and also win another full term’: PM Khan

    PM Khan was confident that he and his party Pakistan Tehreek-e-Insaf (PTI) would not only complete their current term in office but would also win another full term, adding that the nation stood behind him, as he knew the people better than the Opposition did.

    “The reason why people came out for me was that I was trying to get back their looted wealth. You are only trying to cover your own [corruption],” he said.

    “The people recognise your true face now and whatever you have done with this country over the last 30-35 years. You need to understand that the lava is simmering. Once people take to the streets, they only need to be pointed in your direction, and you’ll see everyone of them running off to hide in London,” he said, addressing the Opposition.

    ‘Inflation only problem that gives me sleepless nights‘: Prime Minister Khan

    In response to a caller’s question, he admitted that inflation was the only problem that gave him sleepless nights.

    Insisting that inflation was a global phenomenon that had taken a toll on developed economies like the United States and the United Kingdom as well, he blamed the price hike of commodities on the disruption in the supply chain caused by the pandemic.

     “The biggest challenge we face today is inflation and the rising prices of commodities. I am well aware and cognisant of the issues being faced by the common man due to rising prices.”

    The prime minister said that the corporate sector has made a profit of Rs980 billion and “I would call them and ask them to increase the salaries of their staff because you have never made such a profit before today.”

    Chastises media, judiciary for protecting mafias: PM Imran Khan

    Chastising the media for not presenting a full picture of what was happening on the economic front, PM Khan accused journalists of only painting what he called a ‘bleak’ picture of the economy. Terming certain journalists ‘mafias’, he said they were merely trying to advance the agenda of the Opposition and never projected the achievements of the government.

    The prime minister called on the judiciary to be “merciful to the people” and not to support “mafia and cartels”.

  • PTI spokesperson slammed after implying reduced prices of ‘Shoop Noodles’ shows less inflation

    PTI spokesperson slammed after implying reduced prices of ‘Shoop Noodles’ shows less inflation

    Spokesperson to the Finance Minister, Muzzammil Aslam has shared a screenshot of a message he received from a departmental store. In the message, the supermarket offered reduced prices of a few local commodities.

    Muzzammil while sharing the tweet wrote, “Everyone is talking about inflation but on the other hand, the prices of local commodities are continuously decreasing. Isn’t this an open contradiction?”

    He shared some prices of local products which lowered their prices.

    Netizens slammed the spokesperson for sharing reduced prices of ‘Shoop Noodles’ on Twitter which shows less inflation in Pakistan.

    A netizen replied in the same manner, “Everyone is talking about that the country has no gas but on the other hand, we are doing so much gaslighting every day. Isn’t this an open contradiction?” 

    

    

    
https://twitter.com/AliMaken/status/1483705646503579655

    

    

    Another user added, “It is a Simple Demand-Supply Crisis.”
    

    

    


    

    

    

    Another netizen questioned the intelligence of the person who appointed him as a spokesperson.
    

    

    


    

    

    

    Some users have expressed extreme disappointment with the government’s spokesperson.
    

    

    


    

    

    

    

    


    

    

    

    

    

    


    

    

    

    
			
    
		
    
		
	
  • 
		
		
    
			
    Electricity prices increase by Rs 4.30, petrol by Rs.6
    
			
    Electricity prices increase by Rs 4.30, petrol by Rs.6
    
			
    The National Electric Power Regulatory Authority (NEPRA) has approved the decision to increase power tariff by Rs4.30 per unit on account of fuel cost adjustment (FCA) for November 2021.
    

    Image
    

    The adjustment will be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of November 2021 by the XWDISCOs.
    

    Similarly, the government is likely to increase the prices of petroleum prices by Rs6 per litre this month. However, the Ministry of Finance is yet to make the final announcement, reports Geo News.
    

    It is reported that the implementation will be effective from January 16 after consultations with Prime Minister (PM) Imran Khan. Recently, the government on the New Year’s eve had increased the prices of petroleum products to meet the petroleum levy target agreed with the International Monetary Fund (IMF).
    

    The news came after PM Khan’s statement when he asked his party’s spokespersons to inform the masses that there is no inflation in the country.
    

    

    
			
    
		
    
		
	
  • 
		
		
    
			
    Opposition confused? Bilawal plans February protest in Islamabad, Maulana in March
    
			
    Opposition confused? Bilawal plans February protest in Islamabad, Maulana in March
    
			
    The season of ‘the long march’ is back on in Pakistani politics. Pakistan People’s Party (PPP) chairman Bilawal Bhutto-Zardari on Thursday announced that he will lead a “long march” against the Pakistan Tehreek-e-Insaf (PTI) government from Karachi to Islamabad on February 27.
    

    Addressing a press conference in Lahore, Bilawal said that the nation wants to get rid of the “selected” government and a transparent election is the only solution.
    

    Bilawal lashed out at the government and said that their “intentions are clear to get it approved by force” in Parliament.
    

    Terming the “mini-budget” as an “anti-state bill”, the PPP chairman said that we will protest in front of the Parliament House on the day voting is held.
    

    Contrary to the PPP, the Pakistan Democratic Movement (PDM) is determined to hold a long march on Pakistan Day, March 23.
    

    The Opposition alliance pledged to reach Islamabad on March 23 and warned the authorities against any attempt to use force to prevent the marchers from entering the federal capital. The announcement was made by Maulana Fazal-ur-Rehman, president of PDM, in December 2021. 
    

    While talking to the media and PPP’s former alliance with the Opposition’s PDM, Bilawal said that PPP is not a part of PDM anymore.
    

    “Now it is up to them whether they resign from parliament or not,” he said, adding, “PDM has not consulted with us on its long march against PTI.”
    

    Reportedly, Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz is yet to decide whether she will be marching along with Maulana or not.
    

    
			
    
		
    
		
	
  • 
		
		
    
			
    ‘Tell people there is no inflation’: PM satisfied with economy, says he is ‘brand’ of the party
    
			
    ‘Tell people there is no inflation’: PM satisfied with economy, says he is ‘brand’ of the party
    
			
    Prime Minister (PM) Imran Khan on Monday asked his party Pakistan Tehreek-e-Insaf (PTI) spokespersons to inform the masses that there is no inflation in the country, as he expressed satisfaction over the economic team’s performance, reports The News.
    

    “We had inherited a ruined economy,” he said while hinting at the Opposition while chairing a meeting of the government and party spokespersons to discuss the national economy.
    

    Finance Minister Shaukat Tarin briefed the meeting. He assured that inflation has come down in December as compared to November and next month inflation will come down further as global commodity prices are declining.
    

    The premier directed that the statistics of the economy should be made public and asked his party to inform the people about the reduction in inflation next month.
    

    He told his party members that their prime minister was “their brand”, as he advised them to not let the Opposition dominate the political environment.
    

    “Your leader is not like those of the Opposition. The Opposition defends its dacoit, thief, and corrupt leaders,” he added.
    

    Despite the reassurances the inflation is growing at an alarming rate as earlier this month, the government increased the prices of petroleum products by Rs4 per litre.
    

    Last week, through the mini-budget 17 percent Good and Service Tax (GST) has been imposed on mobiles and multiple imported food items.
    

    

    
			
    
		
    
		
	
  • 
		
		
    
			
    ‘Only way to end inflation is to oust Imran Khan’: Bilawal Bhutto
    
			
    ‘Only way to end inflation is to oust Imran Khan’: Bilawal Bhutto
    
			
    Pakistan People’s Party (PPP) Chairperson Bilawal Bhutto-Zardari said that the increase in prices of petroleum products is Prime Minister (PM) Imran Khan’s new year’s gift to the citizens and the only way to end inflation is to oust the premier himself.
    

    In a series of tweets shared by the PPP official Twitter handle, Bilawal said, “Imran Khan claimed that 2021 would be the year of prosperity, but 2022 has arrived, where have the claims gone.”
    

    The PPP leader’s statement comes after the government announced an Rs4 increase in petrol price.
    

    

    


    

    

    

    He stated that the country witnessed higher inflation than a year prior during Pakistan Tehreek-e-Insaf’s (PTI) tenure, but they continue to blame previous governments labelling them as incompetent.
    

    Bilawal claimed that the PPP faced the worst economic crisis in the world’s history but did not let the citizens bear the brunt of the inflation.
    

    He urged the federal government to reduce the rates of petroleum products in line with international prices.
    

    The PPP chairperson stated that the only way to end inflation is to “oust Imran Khan.”
    

    
			
    
		
    
		
	
  • 
		
		
    
			
			
    Pakistanis in trouble again as more tax hikes planned by the government
    
			
    With rising inflation, and an increase in taxes, the poor and working middle-class are being adversely affected.
    

    At the moment the government is planning on tightening the budget of tax hikes and spending cuts if the country is to get the $1 billion it needs from the International Monetary Fund (IMF).
    

    “I never thought it would become so difficult to survive,” said Sibte Hasan, a 43-year-old construction supervisor from Pakistan’s second-biggest city Lahore.
    

    The Pakistani rupee has also fallen to around 14% since May, which is a historic low.
    

    Finance Minister Shaukat Tarin is still hopeful things will be better but little to no relief is being given by the government as the country faces an inflation and gas crisis and rising taxes.
    

    

    

    

    
			
    
		
    
		
	
  • 
		
		
    
			
    Remove ban on imported cars, petitioner moves Lahore High Court
    
			
    Remove ban on imported cars, petitioner moves Lahore High Court
    
			
    While hearing a case on prices of locally manufactured vehicles, the Lahore High Court (LHC) court has asked the government to level the prices of domestically assembled cars and also mitigate the ban on imported cars. The government had decided in principle to impose a temporary ban on the imported cars from Jan 2022 – June 2022 to help reduce the current account deficit . 
    

    On Monday, the LHC was hearing a case in which looked for strategy concerning fixing cost of locally assembled cars. The plaintiff said that the demand for locally manufactured cars had increased drastically ever since the government had banned the import or vehicles. 
    

    The plaintiff said that the government has failed in stabilising prices and the prices of cars are increasing daily. He pleaded to the court to make a decision regarding the fixing of prices of the vehicles and relaxing the ban. 
    

    The LHC has been pleaded to pass judgment regarding the fixing of the domestically manufactured vehicles and the ban on the import of vehicles should also be relaxed.