Sunday, September 25, 2022

Surging global inflation: PM Imran Khan to address nation soon

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ISLAMABAD: Prime Minister Imran Khan is expected to address the nation tomorrow (Sunday) to shed light on the impact of global inflation on the country’s economy due to ongoing Ukraine-Russia conflict, ARY News reported on Saturday quoting sources.

Sources privy to the matter told ARY News that the prime minister will take nation into confidence regarding the impact of global inflation on the national economy.

 PM Imran Khan will also brief the nation on Pakistan’s position on the world scenario, they added.

hat this recent escalation would bring another wave of price rally in energy & steel markets in the short run.

Read: OGRA HINTS AT ANOTHER PETROL PRICE HIKE FROM MARCH 1

‘Petrol prices to go up’

Chairman Oil and Gas Regulatory Authority (OGRA) Masroor Khan on Wednesday hinted at another hike in price of petrol from March 1.

According to details, the National Assembly (NA) Standing Committee on Petroleum on Wednesday met in Islamabad under its chairman Imran Khatak, in which, the OGRA chairman hinted that the prices of petroleum products will go up from March 1 in light of increase in oil prices globally.

“The government is receiving Rs14 petroleum levy while GST is zero,” he told the meeting and added that the hike in oil prices in global market in 12 weeks was unprecedented.

It is pertinent to mention here that Oil prices jumped with Brent rising above $105 a barrel for the first time since 2014, after Russia’s attack on Ukraine exacerbated concerns about disruptions to global energy supply.

Russia launched an all-out invasion of Ukraine by land, air and sea in the biggest attack by one state against another in Europe since World War Two. read more

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