Tag: Prices

ISLAMABAD - Farooq Sattar has said that Mutahida Qaumi Movement (MQM) has asked the federal ministers to review the recent hike in POL prices as public is unable to bear this additional burden caused by the high prices of the petroleum products.
A delegation of the MQM headed by Dr Farooq Sattar called on the Federal Finance Minister Hafiz Sheikh and Federal Interior Minister Rehman Malik here on Sunday and discussed the matter.
Talking to media, federal Finance Minister

ISLAMABAD - Jamaat-e-Islami leader Professor Khurshid Ahmad on Saturday criticised the "unjustified increase" in the prices of petroleum products imposed on the people of Pakistan in the name of international price hike.
In a statement, he said ten percent increase in the prices of petroleum and thirteen percent in diesel was totally unjustified.
"In the international market, despite Middle East situation, the oil prices have gone down from $114 per barrel in January 2011 to

FAISALABAD - Another cruel increase in petroleum prices has tightened the noose around the poverty-stricken people who are already at the brink of collapse and nobody can imagine what is going to happen in this country. People from all walks of life have condemned the increase in petroleum prices. A consumer outside a petrol station of Faisalabad said it is like pulling away the clothes from our bodies. The man dressed in cheap but nice clothes who seemed to be an office clerk is, in

KARACHI - The people of Pakistan have unanimously rejected Thursday's hike in petroleum prices, saying the move would increase inflation by at five to 10 percent across the country. The inflation-stricken masses would face around 10 percent increase in price of all items after nine to 13 percent hike in petroleum prices, sources told Pakistan Today.
The hike would have its impacts in three dimensions, as it would increase freight charges, cost of production and transportation,

KARACHI - The people of Pakistan have unanimously rejected Thursday's hike in petroleum prices, saying the move would increase inflation by at five to 10 percent across the country. The inflation-stricken masses would face around 10 percent increase in price of all items after nine to 13 percent hike in petroleum prices, sources told Pakistan Today. The hike would have its impacts in three dimensions, as it would increase freight charges, cost of production and transportation, and

LAHORE - With bus owners facing a petroleum price hike of around 10 to 13 per cent from April 1, transporters in Punjab have increased intercity fares by 15 percent immediately. Rising fuel prices are once again enhancing the cost of living, while commuting intra-city and intercity is making people pay more as the transport owners have escalated the air-conditioned buses' fares from Friday. As per the revised fares list, minimum fare for AC coaches has been set from stop to stop as Rs

KARACHI - Despite the PM's visit to India, the expected benefits of cricket diplomacy for the textile sector have not yet materialised. India has refused to support Pakistan's claim to an EU-sponsored package for additional trade quotas for 75 textile products in the WTO (World Trade Organisation).
The ongoing cotton rally witnessed in the past year exceeded expectations globally, reaching a high of $2.44 per pound (Cotlook-A) and Rs 13,932 per maund (KCA), although the

LONDON - World oil prices rose sharply Thursday as trader sentiment was jarred by simmering geopolitical tensions in the Middle East and North Africa, particularly in Libya and Syria.
In London midday trade, Brent North Sea crude for delivery in May added $1.07 to $116.20 a barrel.
New York's main contract, light sweet crude for May, won 99 cents to $105.26.
"Crude oil prices rebounded strongly amid ongoing political unrest across Middle East that continue to raise

ISLAMABAD - The government is still undecided whether to pass on the complete effect of the increase in international oil prices to the consumers, which the Oil and Gas Regulatory Authority (OGRA) estimates at Rs 7 to Rs 12 per litre.
An official source said OGRA had submitted its report on the international oil prices that have averaged $111 per barrel in the Gulf market during the month of March. OGRA has assessed 10 to 12 percent increase in oil prices in the international

LAHORE - Prices of edible oil and milk have surged due to expensive cottonseed oil and a further rise is likely if cotton prices are not controlled, Pakistan Today learnt on Monday. Banola oil and cattle feed are produced from cottonseed (banola), price of which has increased 160 percent in the last one year. It was sold for Rs 50 per kg in March, 2010, however, prices have now jumped to Rs 130 per kg, triggering fears that prices of edible oil would rise. Banola oil is extracted from

KARACHI - The prices of petroleum products are likely to see a major upward revision in the month of April as the government is likely to pass on the impact of rising crude oil prices to consumers.
Assuming that the government does not tinker with the petroleum levy amount, price of HSD and MS should be increased by Rs 7.59 per liter and Rs 4.73 per liter, respectively.While the levy on HSD is currently negligible at just Rs 0.44 per liter, any increase in it to accommodate a

GENEVA The government in Pakistan has pushed food prices too high for an impoverished population, as malnutrition levels rise despite the recovery of crops after devastating floods, a UN food relief official said on Wednesday.
Wolfgang Herbinger, director for the World Food Programme (WFP) in Pakistan, said food crops especially wheat in the southern flood-hit plains were recovering fast with the prospect of decent crops over the coming weeks. "The crop outlook is not bad but the

LAHORE - The prices of garments have doubled in the last year on the back of soaring cotton prices giving an edge to national exports, the stakeholders of textile and agriculture sector told Pakistan Today on Wednesday. The price of cotton in the course of a single year doubled and resulted in an increase of production costs for all types of garments including denim, shirts, socks and other items. The price of cotton stood at Rs 12,620 per 37.32 kg with one kg cotton costing around Rs

GENEVA - Pakistan's government has pushed food prices too high for its impoverished population and malnutrition is rising despite crop recovery after dire floods, a UN relief official said.
Food crops especially wheat in the southern plains hit by last year's floods were recovering fast with the prospect of decent yields in coming weeks, said World Food Programme (WFP) director in Pakistan, Wolfgang Herbinger.
"The crop outlook is not bad but the food security situation

KARACHI - The Sindh High Court (SHC) on Monday adjourned proceedings on the constitutional petition regarding increase in milk price, after it was told that negotiations for the reduction in prices were being held between dairy farmers and the city government. The SHC division bench comprising Chief Justice Musheer Alam and Justice Syed Hassan Azhar Rizvi was hearing the case, where Advocate Manzoor Ahmed, counselling on behalf of the City District Government Karachi (CDGK), appeared

LAHORE - Increasing stationery prices have baffled the students from low-income families. A continuous rise in the prices of school stationery over the past few years has risen questions over the seriousness of the government in promoting free education. Traders and parents fear that the recent flood surcharge will increase already high stationery prices. Parents claim that a 50 to 100 % increase in the prices of stationery items, excluding books, has occurred recently, which made

KARACHI - The Sindh High Court (SHC) on Friday issued notices to the Sindh chief secretary, City District Government Karachi and other respondents on a constitutional petition seeking implementation of consumer laws across the province and government action against the price hike in different edible items, including milk and milk products. Rana Faiz-ul-Hassan of the United Human Rights had moved a constitutional petition in which he stated that court had issued directions to the Sindh