Inflation surged by 12.36pc in urban areas and 15.88pc in rural areas. The inflationary trend was led by transport, which saw a 31.77pc rise, followed by food at 17.25pc. Prices of perishable food items increased by 26.37pc
Economy
The hike reflects the government commitment to long-term economic reform to achieve macroeconomic stability
Russian President Vladimir Putin decision to link gas payments with ruble gave a strong support to the ruble and it surged to 65 a week ago and today it closed around 61, showing further improvement in its value.
Pakistani currency gained 1.46 percent in two days.
The Central Power Purchasing Agency-Guarantee Limited Rs 4.50 increase per unit for the month of April 2022 for DISCOs and NEPRA approved Rs3.99 hike.
This appreciation of rupee value is attributed to the government’s decision to raise petrol prices which has taken the cash-strapped economy one step closer to IMF’s deal.
Existing average base tariff per unit is Rs16.64, which would surge to Rs24.14 per unit if the government increased unit price by Rs7.
The minister said that Pakistan has requested the Fund to extend the program by one year and provide an additional $2 billion.