Nadeem
05-14-2008, 08:59 PM
Pakistan beset with all-time high inflation rate today
http://geo.tv/5-13-2008/eng/5-13-2008_18041_l.gif
ISLAMABAD: The rate of inflation ballooning up in the country to a record level has pushed the people live in the blazing hyperinflation stoked by the bouts of recent enhancements in the fuel prices and the spiraling prices of food items, said the economists here.
Meanwhile, an economist Dr. Shahid Hassan Siddiqui said that the blazing inflation was the outcome of the recent measures taken by the government. He said that the agricultural countries have got the shocks of hiking international oil prices absorbed by boosting the production of grains, while Pakistan was importing wheat and cotton. He said that by providing vehicles on cheaper loans fuel consumption in the country has been raised, which has further made the oil import bill heavier.
Muzammil Aslam said that the inflation rate was seen shooting up in the wake of government enhancement in wheat support price by 50 percent besides the hiking prices of diesel by 25 percent, petrol by 22 percent and rice by 50 percent during the last 45 days.
http://geo.tv/5-13-2008/eng/5-13-2008_18041_l.gif
ISLAMABAD: The rate of inflation ballooning up in the country to a record level has pushed the people live in the blazing hyperinflation stoked by the bouts of recent enhancements in the fuel prices and the spiraling prices of food items, said the economists here.
Meanwhile, an economist Dr. Shahid Hassan Siddiqui said that the blazing inflation was the outcome of the recent measures taken by the government. He said that the agricultural countries have got the shocks of hiking international oil prices absorbed by boosting the production of grains, while Pakistan was importing wheat and cotton. He said that by providing vehicles on cheaper loans fuel consumption in the country has been raised, which has further made the oil import bill heavier.
Muzammil Aslam said that the inflation rate was seen shooting up in the wake of government enhancement in wheat support price by 50 percent besides the hiking prices of diesel by 25 percent, petrol by 22 percent and rice by 50 percent during the last 45 days.