Tag: Prices

ISLAMABAD - Angry lawmakers from both treasury and opposition benches staged three separate token walkouts from the National Assembly on Tuesday to register their protest against the recent increase in petroleum, oil and lubricants (POL) prices.
The two major opposition parties - the PML-N and PML-Q - staged separate token walkouts from the House following the Muttahida Qaumi Movement (MQM), which belongs to the treasury benches. Speaking on a point of order, Haider Abbas Rizvi

ISLAMABAD - The government has increased the prices of petroleum products claiming that it has passed on just the impact in the international market to consumers, but a careful glance reveals that it has benefited the most from the price increase since it is charging more petroleum levy and sales tax.
An official source told Pakistan Today that the government was likely to continue increasing POL prices in coming months to meet the budget deficit, since the government was trying

LAHORE - The 10 percent increase in petroleum prices has affected the rich and poor alike in the city. Citizens complained that the hike had affected their budget as a whole and criticised the authorities for the decision. Rustam Ali Khan, a father of three said, "I don't understand what this government wants from us; we already do not get CNG for 2 days in a week and now a sudden raise of more than 7 rupees in the petrol prices ? I have no idea what the government is up to."
He

LAHORE - The Pakistan Industrial and Traders Associations Front (PIAF), Ferozepur Road Industrial Association, Katar Band Industrial Association and Kahna Kacha Industrial have rejected the massive rise in petroleum prices and have demanded an immediate withdrawal from the government. The demand was raised at an emergent meeting, presided over by PIAF Chairman Sohail Lashari, here on Tuesday.
Participants of the meeting were exasperated on this anti-industry and anti-masses

KARACHI - The 23.1 percent historic rise in exports, during July-January, 2011, is primarily driven by an increase in price of export items in the international market and exports, in terms of quality, have not boosted. Pakistani exports stood at $13.279 billion during the last seven months of this financial year compared to $10.784 billion in the corresponding period last year, exhibiting a growth of 23.1 percent, sources said.
Contrarily, figures released by the State Bank of

LAHORE - Inter-city transporters have increased fares by 10 percent while transporters are all set for a wheel jam strike if the federal government does not reverse the increase in fuel prices.
Talking to Pakistan Today, transporters said that the increase in fuel prices is a 'drone attack' by the federal government against the public. They said that they would announce a wheel jam strike in Punjab if the prices are not reversed. Urban Bus Owners Association Punjab Chairman

ISLAMABAD - The government announced a 9.9 percent increase in prices of petroleum products across the board on Monday to lower its fiscal deficit and said it would still have to absorb a differential of Rs 5 billion in March alone because it was not passing on the full impact of the price increase to consumers.
Oil and Gas Regulatory Authority Senior Executive Director of Finance Syed Jawad Naseem said that the price of petrol had been increased by Rs 7.23 per litre from Rs

WASHINGTON - Oil prices shot up eight percent to $93.36 a barrel in New York opening trade Tuesday as worries about unrest in Libya hit the market. Prices jumped $7.16 a barrel for the WTI crude contract in the first day of trading on the New York Mercantile Exchange since violence escalated in key North African oil exporter Libya over the weekend.
US oil prices in the past month had been relatively immune to Middle East political turmoil due to the heavy stockpiling in US oil

PARIS - World Bank President Robert Zoellick warned leaders of the top global economies that the world is reaching a danger point where soaring food prices threaten further political instability. "I mentioned that we are reaching a danger point," Zoellick said, adding that he had urged G20 finance ministers and central bank chiefs meeting here to put food first in 2011.
Zoellick said rising prices would eventually result in increased food supplies but in the intervening couple of

LAHORE - The prices of vegetables and chicken increased sharply at Sunday bazaars of the city while there was also a slight increase in fruits prices. The prices of onion, garlic, ginger, tomatoes and peas increased upto Rs 5-50 per Kg. The prices of garlic witnessed Rs 50 per Kg increase. It was sold for Rs 225 per Kg this week, as compared to previous week, when it was available for Rs 225 per Kg.
The prices of onion and ginger also witnessed Rs 4 per Kg increase while tomato

LAHORE - Vegetable prices fell while fruit prices remained stable at various Sunday bazaars. Vendors benefited from the decrease in vegetable prices while high demand of chicken increased its prices. Sales of vegetables doubled due to decrease in their prices.
"I used to sell around 50 kilogrammes onions at Sunday bazaars but this week, sales crossed 70 kilogrammes. Similarly, sales of ginger, garlic, tomatoes and potatoes were 20 percent high compared to other weeks," Vegetable

JERUSALEM - Israel's Benjamin Netanyahu met on Wednesday with union officials in a bid to stave off rising public anger and a general strike threat over spiralling food and petrol prices, officials said. During the talks with Histadrut chairman Ofer Eini and the heads of the manufacturers' association and the local authorities' union, Netanyahu laid out a package of cuts aimed at staving off public discontent over rising prices.
The emergency session was convened after union

ISLAMABAD - With sugar prices having risen astronomically in the past one year, the country's annual sugar consumption is expected to decline by up to 1 million tonnes to 3.2 million tonnes. An official source said this assessment had been made by the Ministry of Industries when it noticed that monthly sugar consumption had gone down from 350,000 tonnes to 270,000 tonnes.
The decline in sugar consumption is attributed to the commodity's high price, currently Rs 75 per kilogramme,

BAGHDAD - Iraq's government submitted a revised draft budget to MPs for approval on Sunday, raising projected public spending as oil prices have increased, government spokesman Ali al-Dabbagh said. The new spending programme estimates overall expenditure at $81.86 billion, or 96.6 trillion Iraqi dinars, while income will be $68.56 billion, leaving a shortfall of $13.3 billion- about a 16 percent budget deficit.
Sunday's submission is based on average oil prices of $76.5 per

LAHORE - Vegetable and fruit prices remained stable at Sunday bazaars owing to increased supply but customers were seen complaining about quality of products. People complained that they were forced to buy low quality vegetables and fruits at higher prices.
"The quality of vegetables always remains a problem at Sunday bazaars but every time the administration is least bothered about it," said customer Javed Ahmed. Another customer Mehmood Ali said that although prices were stable

KARACHI - An IMC spokesman, while reacting to statements from some analysts and government officials that Indus Motors Company (IMC) has massively increased prices of its vehicles during the past two years, said that facts are being distorted which is causing an irreparable damage to the local industry.
In a statement, an IMC spokesman said that IMC has increased its prices by only seven percent during the last two years (Jan 09 till Dec 10). He stated that reasons for an

ROME - United Nations food agencies on Friday warned that record-high prices for basic commodities are helping generate unrest around the world and contributed to the ousting of the Tunisian president last month. "Not only is there a risk, but there have already been riots in some parts of the world because of rising prices," Jacques Diouf, head of the UN's Rome-based Food and Agriculture Organisation (FAO), told reporters.
"Some governments have found themselves in difficult