Several media sites reported on Saturday that Prime Minister Imran Khan will address the nation tomorrow (Sunday) to discuss the impact of global inflation on the country’s economy.
The prime minister will reassure the people about the impact of global inflation on the national economy, according to details. According to reports, geopolitical tensions resulting from the Ukraine-Russia war may have an influence on Pakistan.
“In the last week, international oil and wheat prices have risen by 12-15 percent; at the same time, global insurance companies have increased war surcharges on shipping businesses,” the sources stated.
‘Petrol prices are expected to rise.’
Masroor Khan, Chairman of the Oil and Gas Regulatory Authority (OGRA), warned on Wednesday that the price of gasoline may be raised again from March 1.
The Standing Committee on Petroleum of the National Assembly (NA) convened in Islamabad under the chairmanship of Imran Khatak, in which the OGRA chairman intimated that the prices of petroleum goods may go up from March 1 due to an increase in global oil prices.
He told the meeting that the government receives Rs14 in petroleum levy while GST is zero, adding that the increase in global oil prices in the last 12 weeks was unprecedented.
After Russia’s war on Ukraine intensified concerns about global energy supply disruptions, oil prices soared, with Brent reaching above $105 a barrel for the first time since 2014.
Russia launched a full-scale invasion of Ukraine by land, air, and sea, marking the largest single-state onslaught in Europe since World War II.