Thursday, 18 August 2022

 

 

LATEST NEWS Sushil Kukreja and Virender Singh sworn in as Himachal HC Judges, Governor administers oath Kultar Singh Sandhwan launches Shaheed Bhagat Singh Education Fund Punjab Assembly will be paperless soon: Kultar Singh Sandhwan Chief secretary Vijay Kumar Janjua reviews work of homi bhabha cancer hospital and research center On the occasion of Arvind Kejriwal's birthday, Aam Aadmi Party's youth wing organized a blood donation camp in Mohali Shehnaaz Gill Breaks Silence On Her Rumored Relationship With Raghav Juyal Batch 2013: Hardeep Grewal Drops Another Enthralling Poster Of Upcoming Film The Great India Run culminates in New Delhi, runners complete a distance of 829 kms over 10 days Aam Aadmi Clinics will provide best treatment facilities to people at their doorsteps : Vishesh Sarangal Lovely Professional University celebrates India’s 76th Independence Day Ludhiana Central Constituency gets two Aam Aadmi Clinics Zarah Bhat, the first female NIS qualified female coach in Kashmir has to skip karate due to a lack of basic facilities in Kashmir Moh Trailer Review: Get Your Tissues Ready & Brace Yourself For A Good Cry In Jagdeep Sidhu’s Upcoming Film Tamil Nadu Chief Minister M.K. Stalin calls on Prime Minister Narendra Modi 2,400-bed hospital of Mata Amritanandamayi largest in region : Manohar Lal Khattar Shaan, Papon lend their voices to Durand Cup anthem First look of Nivin Pauly-starrer 'Saturday Night' out! Drake passes The Beatles' record of Hot 100, bets on Bitcoin KL Rahul begins training for Zimbabwe ODIs Kolkata Knight Riders appoint Chandrakant Pandit as their new head coach Mike Tyson seen in wheelchair after saying his death is coming 'really soon'

 

With Imran Khan sniping at his heels, Pak PM Shehbaz Sharif has a mountain to climb

Shehbaz Sharif , Islamabad , Pakistan , Prime Minister of Pakistan, Imran Khan, International Leader

Web Admin

Web Admin

5 Dariya News

New Delhi , 28 May 2022

Domestic challenges for the Shehbaz Sharif government which increased fuel prices as mandated by the International Monetary Fund, could only multiply in the coming weeks. Soon after Islamabad increased prices of petrol and diesel by a whopping Rs 30, prices of several other items including food have already started rising.For example, the price of flour has gone up sharply within hours of the fuel price hike.A notification by the Utility Stores Corporation, a kilogram of flour will be costlier by Rs 9 per. The Utility Stores Corporation is a state-owned enterprise running a host of outlets throughout the country selling basic commodities.The fuel price hike will surely lead to a surge in inflation. "Pakistan had little choice..it had to raise fuel prices to be able to secure the IMF financial package but now it is to be seen how it manages its domestic audience and the backlash," an analyst told India Narrative.The fuel price hike, though necessary to undo the mistakes of the past government, will make the going tough for Sharif and his team, as the worst hit will be the common citizens.

Pakistan's annual inflation rate in April rose to 13.4 per cent the highest in two years. In March the figure was 12.7 per cent. Inflation in the south Asian country has remained in double digits for the last six months. News portal Global Village Space noted that Sharif, who had criticised the earlier government for rising inflation, had earlier vowed to reduce flour prices. "..things do not seem very promising either with PML-N in governance," the news portal said.Former Prime minister Imran Khan, who still enjoys "huge popularity" within Pakistan launched a scathing attack on the government."Nation starting to pay price for Imported govt's subservience before foreign masters with 20% / Rs30 per litre hike in petrol & diesel prices - the highest single price hike in our history. The incompetent & insensitive Govt has not pursued our deal with Russia for 30% cheaper oil," Khan tweeted.He added that in contrast, India, a strategic ally of the US, has managed to reduce fuel price."Now our nation will suffer another massive dose of inflation at the hands of this cabal of crooks," Khan said in his tweet.

Besides petrol and diesel, the price of kerosene oil has also been raised by Rs 30, taking the price to Rs 155.56 per litre.Amid rapidly deteriorating economic situation, Pakistan has reached out to the IMF as well as other countries for financial assistance. Pakistan-IMK talks on a bailout package hit a roadblock a day earlier when the two sides failed to reach a consensus on the fuel subsidy.Pakistan received the $1 billion grant from the IMF under its $6 billion Extended Fund Facility (EFF). In 2019, IMF agreed for a bailout package but it halted the assistance in January 2020, after Khan refused to increase electricity tariff and impose additional taxes as prescribed by the multilateral agency.Though the IMF has been stressing the need to remove the existing subsidy on fuel and electricity, the Sharif administration too was reluctant to roll back.Khan, just before exiting office, slashed prices of petrol and other commodities, freezing them till the Budget Session in June. The subsidies would have cost about $2.1 billion to the exchequer.To save foreign exchange reserves, Pakistan even imposed a ban on imports of non essential and luxury items.

 

Tags: Shehbaz Sharif , Islamabad , Pakistan , Prime Minister of Pakistan , Imran Khan , International Leader

 

 

related news

 

 

 

Photo Gallery

 

 

Video Gallery

 

 

5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2022 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD