ANI, Islamabad
Published by: Sanjeev Kumar Jha
Updated Mon, 28 Feb 2022 03:07 PM IST
Summary
According to analysts, the price of petroleum products in Pakistan may once again increase by Rs 8-12 after the price of crude oil in the international market exceeds USD 100 per barrel for the first time since 2014.
Pakistan Prime Minister Imran Khan will address the nation today on the impact of the Russia-Ukraine conflict on the country’s economy. According to the report of Sama TV, this development comes amid news of another imminent petrol hike in Pakistan. According to analysts, the price of petroleum products in Pakistan may once again increase by Rs 8-12 after the price of crude oil in the international market exceeds USD 100 per barrel for the first time since 2014. Earlier this month, the Imran Khan government dropped petrol bombs on the public by raising the prices of petroleum products by up to Rs 12.03 per litre. The price of petrol in Pakistan is now Rs 159.86 (Pakistani Rupee) per liter.
State Bank of Pakistan released data
On Thursday, the State Bank of Pakistan (SBP) released data showing that Pakistan’s current account deficit (CAD) reached an all-time high of USD 2.56 billion in the month of January 2022. At the same time, Pakistan’s debt and liabilities reached an all-time high of Rs 51.724 trillion in December 2021, with external debt increasing by 20 per cent during the first half of the current fiscal year (2021-22).
Impact of Ukraine crisis on Pakistan’s currency
At the same time, according to the report of Geo News, in particular, the impact of the Ukraine crisis is also expected to affect the currency of Pakistan. It is being told that a large current account deficit, increase in energy, oil prices and volatility in financial markets may put pressure on the Pakistani rupee next week. Meanwhile, the Imran Khan government is facing criticism from both the opposition and the public over its reliance on loans and bailouts, along with a record rise in oil prices.
Expansion
Pakistan Prime Minister Imran Khan will address the nation today on the impact of the Russia-Ukraine conflict on the country’s economy. According to the report of Sama TV, this development comes amid news of another imminent petrol hike in Pakistan. According to analysts, the price of petroleum products in Pakistan may once again increase by Rs 8-12 after the price of crude oil in the international market exceeds USD 100 per barrel for the first time since 2014. Earlier this month, the Imran Khan government dropped petrol bombs on the public by raising the prices of petroleum products by up to Rs 12.03 per litre. The price of petrol in Pakistan is now Rs 159.86 (Pakistani Rupee) per liter.
State Bank of Pakistan released data
On Thursday, the State Bank of Pakistan (SBP) released data showing that Pakistan’s current account deficit (CAD) reached an all-time high of USD 2.56 billion in the month of January 2022. At the same time, Pakistan’s debt and liabilities reached an all-time high of Rs 51.724 trillion in December 2021, with external debt increasing by 20 per cent during the first half of the current fiscal year (2021-22).
Impact of Ukraine crisis on Pakistan’s currency
At the same time, according to the report of Geo News, in particular, the impact of the Ukraine crisis is also expected to affect the currency of Pakistan. It is being told that a large current account deficit, increase in energy, oil prices and volatility in financial markets may put pressure on the Pakistani rupee next week. Meanwhile, the Imran Khan government is facing criticism from both the opposition and the public over its reliance on loans and bailouts, along with a record rise in oil prices.