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Inflation reaches new heights as new month begins

Inflation reaches new heights as new month begins

KARACHI: The month of July also ushered in a steep rise in inflation across the country. The recent hike in taxes paved way for inflation to reach new heights, creating plenty of problems for citizens.

Sales taxes, along with other taxes, will be imposed from today (July 1). Increase in gas prices will also be applied from today. In the series of price hikes, the electricity prices per unit will increase by Rs0.75.

In Peshawar and Quetta, the prices for vegetables and fruits will increase by Rs20 to Rs80 per kilo. The transporters alliance in Karachi decided to go on a strike from Tuesday over likely hike in the price of CNG by Rs18 in Sindh.

In Quetta, the price of CNG per kilo has been raised from Rs112 to Rs132, whereas, in Peshawar it increased to Rs140. Karachi transport alliance leader Arshad Bukhari said that due to heavy increase in price of CNG it is not possible to run buses.

Meanwhile, the online taxi services also announced an increase of five per cent in fares. The ticket price for Railway has also been increased from today, with a hike of two to eight per cent. In Faisalabad, in protest of sales tax, the textile processing mills association has announced to shut down factories.

Due to the announcement, daily wage workers have been quite disgruntled.  All Pakistan Textile Mills Association has distanced itself from the call for strike, saying they believe in negotiation instead of protest.