It is result of declining rates in global market
ISLAMBAD – The inflation-hit people in Pakistan may have some good news as a big drop in petroleum product prices is expected this week under the fortnightly review after the government slashed the rates with effect from May 1 as well.
It is declining oil prices in international market which are helping the government to lower the POL prices amid a persistent dip in inflation as reflected by the consumer price index for the past four months. At the same, the diesel prices are expected to reduce by Rs8.30 per litre after a decline of $4.68 a barrel.For April, the official statistics showed the CPI had dropped to 17.6 per cent – the lowest since May 2022 – a development that bodes for the coalition government led by Prime Minister Shehbaz Sharif.
And the PML-N is set to benefit from the trend yet again – although the scale will not be the same – mainly due to a weaker rupee when compared to the exchange witnessed during 2013-17, which makes the imports expensive.
Inflation Petrol Prices Diesel Prices Shehbaz Sharif Nawaz Sharif Maryam Nawaz IMF
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