Gas Prices Surge by Over 800% in Just Four Months, Report Reveals

Islamabad: The Federal Bureau of Statistics has revealed a staggering increase of over 800% in gas prices over the past four months. This was disclosed during a National Assembly session chaired by Deputy Speaker Ghulam Mustafa Shah, where details of the rising prices of essential goods were presented.
According to the statistics agency, over the last five years, the price of sugar has risen by 53.5%, and palm oil by 61%. In addition, the prices of soybean oil, wheat, and crude oil have increased by 35% during the same period.
The authorities attributed these hikes in prices to the increase in electricity and gas tariffs, which were implemented under the International Monetary Fund (IMF) program. As per the report, gas tariffs were raised by 520% in November 2023 and by an additional 319% in February 2024. Similarly, electricity rates saw a 35% hike in November 2023, followed by a 75% increase in February 2024.
The Federal Bureau of Statistics also stated that these extraordinary increases in gas and electricity prices have significantly contributed to the overall inflation in the country.
Additionally, the Ministry of Finance revealed that over the past five years, mobile phone users in Pakistan have paid a staggering 338 billion rupees in taxes. The Ministry presented these details in the Assembly, highlighting the total tax collection from mobile users during this period.