ISLAMABAD: Prime Minister Imran Khan is expected to address the nation tomorrow (Sunday) to shed light on the impact of global inflation and the country’s economy, several media outlets reported on Saturday quoting sources.
According to details, the prime minister will take nation into confidence regarding the impact of global inflation on the national economy. Reports added that geopolitical tensions in the wake of the Ukraine-Russian conflict could have an impact on Pakistan.
“During the last one week, oil and wheat prices in the international market have surged by 12-15%; meanwhile global insurance companies have raised war surcharges on shipping companies,” the sources said.
‘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.
The National Assembly (NA) Standing Committee on Petroleum 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.
