Govt had to increase energy prices for IMF programme
LAHORE - Bloomberg in its report has revealed that inflation in Pakistan is still at its highest level compared to the other Asian countries.The report said the inflation’s rate in the country has fallen, but the ratio of electricity bills is higher than the house rent, adding hike in power tariff, meeting IMF loans’ conditions and other reforms sparked countrywide protests.
The report further said 155pc increase in electricity prices has been witnessed, adding due to Pakistan's chronic economic crisis, the energy sector has become a headache. Inflation which is about 12 percent, the highest in Asia, has pushed electricity consumption to a four-year low as people and companies switched to solar panels.
The report said the average unit price of electricity for residential consumers increased by 18 percent in July. Protests by citizens, businesses and opposition political parties spread across the country, prompting Prime Minister Shehbaz Sharif to release Rs5,000 crore subsidy to protect the poorest electricity consumers.PM Shehbaz calls for hard work, passion to change fate of nationOpposition alliance mulls joint strategy against Shehbaz-led govt
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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