Karachi: The Federal Bureau of Statistics reports revealed a massive hike of 800% in gas prices in the last four months. Deputy Speaker Ghulam Mustafa, the chairperson of the National Assembly presented in a session with details regarding the increase in prices of various goods.
The price of essential goods has seen a massive hike in the last five years. Sugar prices have risen by 53% and palm oil prices have increased by 61%, according to the Federal Bureau of Statistics.
The report also tells that the prices of crude oil, soybean oil, and wheat have risen by 35% in the same period. The official applied the inflation as a whole to the rise in electricity and gas prices under the IMF program.
The government raised the gas prices by 520% in November 2023 and 319% in February 2024. While, electricity prices increased by 35% in November 2024 and 75% in February 2024, according to the statistics agency.
The massive hike in electricity and gas tariffs has led to overall inflation, according to the Federal Bureau of Statistics. Moreover, the Ministry of Finance revealed that in the last five years, the government efforts made the mark to collect a staggering 338 billion rupees in taxes from mobile phone users.
The detailed stats were provided by the Ministry in the House reporting that they have done the collection of 338 billion rupees in taxes during the past five years.
