Gas price increased by 850% in Pakistan

Gas prices increased by 850% in last four months in Pakistan.

The Pakistan Bureau of Statistics (PBS) has revealed this. During a National Assembly session chaired by Deputy Speaker Ghulam Mustafa Shah, detailed statistics on rising commodity prices were presented on Wednesday.

PBS reported a 53.5% increase in sugar prices and a 61% rise in palm oil prices over the past five years.

The prices of soybean oil, wheat, and crude oil have also surged by 35% during the same period.

Officials attributed the overall inflation to price hikes in electricity and gas under the IMF programme. 

According to PBS, gas tariffs were increased by 520% in November 2023 and an additional 319% in February 2024. Similarly, electricity tariffs rose by 35% in November 2023 and 75% in February 2024.

The PBS further highlighted that the extraordinary increases in electricity and gas prices contributed significantly to the overall inflation in the country.

Source: Agencies