Many people have lost their lives due to flash floods caused by heavy monsoon rains in most parts of the neighboring country of Pakistan.
Officials are trying to provide relief materials to the affected people. Meanwhile, inflation in Pakistan is not taking its name to stop.
Now the Shahbaz Sharif government has taken a tough decision. There has been a fall in the price of oil in the global market, but the price of petroleum products has increased in Pakistan.
Petroleum products have increased by about Rs 3 per litre. The decision was taken in line with the commitment of the International Monetary Fund (IMF) with the recently launched bailout loan program to cope with exchange rate fluctuations.
In this context, the Ministry of Finance issued a notification, according to which, the price of petrol increased by Rs 2.07, the price of high-speed diesel increased by Rs 2.99, the price of kerosene by Rs 10.92 and the price of light diesel (LDO) increased by Rs 9.79.
These new rates will be applicable from September 1 to September 15, 2022. The notification states that, 'To provide relief to the customers, the petroleum levy has been kept to a minimum.'
It is known that the Pakistan government started increasing the price of fuel from the last week of May 2022 as it had to work to get the bailout package from the IMF again.
It is noteworthy that not only petroleum products but also the price of vegetables are very high in Pakistan.
Recently there was a huge increase in the prices of vegetables. There was an increase of at least 200 percent.
After the floods, prices of tomatoes, potatoes and other vegetables have increased across the country as more than 20 million acres of farmland have been destroyed by the floods.