As the inflation rate in July 2023 crossed 28 per cent, the finance ministry anticipated the rate to be between 25-27 per cent.
The price of fresh fruits by 17.90 per cent,potatoes increased by 8.16 per cent, tomatoes increased by 33.45 per cent and fresh vegetables by 37.64 per cent.
Earlier on 1 August 2023, the Pakistan government hitched up the price of petrol by 19.95 Pakistani Rupees per litre for the next fortnightly review. The announcements about the rise were made by Finance Minister Ishaq Dar in a press conference.
Dar said, “Petrol price has been increased by 19.95 PKR per litre to 272.95 PKR, while high-speed diesel is being increased by 19.90 PKR to 273.40 PKR.”
He said that the revised prices will become functional immediately, adding that hike in fuel prices was unavoidable in line with the commitments made with the International Monetary Fund on slapping petroleum development levy (PDL) to the rates.
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