Caretaker Govt Optimistic for Petrol Price Relief as Rupee Recovers, Though Taxes Remain High

Caretaker Minister hopeful for 'good news' on petrol prices on Oct 1 as rupee strengthens.
Attributes inflation rise to rupee losing value against dollar.
Interim government facing criticism over petrol price hikes.
Latest increase based on currency fluctuation and international oil prices.
Govt charging taxes and levies on petrol and diesel adding to price hike.

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Relevant topic timeline:

8/27/2023

Value-added exports key to $80bn target: commerce minister

Dr Gohar Ejaz, the caretaker federal minister for Commerce and Industries in Pakistan, is urging textile exporters to focus on value-added products and is pledging extensive assistance to entrepreneurs, including the establishment of business parks to support global trade and achieve the $80 billion export target.

9/1/2023

Economic crisis: Pakistan jacks up petrol, diesel prices past PKR 300-mark for first time in its history - Times of India

The recent increase in energy prices in Pakistan has led to protests over high inflation and electricity bills, with demonstrators burning utility bills, blocking highways, and attacking power company offices. The caretaker government has refused to lower energy prices without approval from the IMF, and has further increased petrol and diesel prices by over 14 Pakistani Rupees (PKR), surpassing PKR 300.

9/2/2023

Pakistan: After petrol and diesel price hike, LPG price hiked to Rs 240 per kg, rupee slumps to 307 per dollar

Pakistan's economic crisis is worsening under the caretaker government, as LPG prices increase by 20% and the rupee continues to fall.

9/16/2023

Pakistan Expands Nuclear Arsenal Despite Economic Crisis and 27% Inflation

The caretaker government of Pakistan has raised petrol and diesel prices to record levels, leading to a surge in inflation and impacting the prices of essential commodities, while the country continues to invest in and expand its nuclear weapons program.

9/23/2023

Rupee Recovery to Bring Down Inflation and Oil Prices, Says Sindh Governor

The Sindh governor claims that the Pakistani rupee will further decline against the US dollar, with petrol prices expected to fall on October 1 due to the appreciation of the rupee and the government's crackdown on currency smugglers, hoarders, and black marketers.

9/24/2023

Government Hints at Reducing Fuel Prices in Upcoming Review Due to Rupee Strength and Oil Price Changes

The caretaker government in Pakistan has hinted at lowering fuel prices in the next review, following a 20% increase since taking office, and assured efforts are being made to stabilize the economy.

10/16/2023

Pakistan Cuts Petrol and Diesel Prices Again Due to Falling Oil Costs

The Caretaker Prime Minister of Pakistan has reduced petrol and diesel prices for the second fortnight in a row due to a decline in the international market and an increase in the value of the Pakistani rupee, while also raising the petroleum levy on diesel to a historic high.

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Posted 9/23/2023, 12:38:42 PM