Pakistan’s inflation rate reached 13.4 per cent in April 2022. It is expected that the figure will increase in May as well. Last week, the finance minister announced a hefty increase in petroleum prices. Petrol prices have increased by Rs30 per litre. This move is likely to have devastating effects on our economy, resulting in a new wave of rising inflation.
Petroleum prices have a direct effect on prices of items of daily use. The lower-middle and middle classes will be hit hardest by this price hike.
Mumraiz Khan
Karachi
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