Tag Archives: Hike

Opposition, govt allies reject hike in petrol prices

Opposition, govt allies reject hike in petrol prices

ISLAMABAD – Opposition parties and two allies of the PPP are flexing their muscles to take the government head-on for an unprecedented hike in the POL prices, vowing on Saturday to vociferously protest against the increase in and outside parliament.
Talking to Pakistan Today, representatives of the PML-N, PML-Q, MQM, ANP, JI, JUI-F and PPP-Sherpao said it was unfortunate that the already hard-pressed people of Pakistan had been forced to pay for the government’s corruption and

Petroleum price hike is PPP’s New Year’s gift to public

LAHORE – PML-N senior leader Ashan Iqbal has condemned the hike in petroleum products and said this is New Year gift to people by the government.
In a statement issued here on Friday, PPP-led government had been involved in lavish spending, corruption and mismanagement and people had been bearing the brunt. “Common man’s life has turned worst due to government’s anti-people policies,’ he added.
Ahsan Iqbal deplored that if government implemented the suggestions recommended

Govt seeks explanation from Engro on urea price hike

ISLAMABAD – Taking strict notice of a massive price hike of Rs 190 per bag of urea by the largest urea manufacturer in the country, Engro Fertilisers, the government has sought an explanation from the manufacturer. A spokesman of the ministry of industries said that under directives of the minister for Industries Mir Hazar Khan Bijarani, the ministry has taken a serious notice of a unilateral increase in the urea price of Rs 190 per 50 kg bag by Engro Fertilisers Limited.

Govt holds back fuel and power tariff hike

ISLAMABAD: The government has put on hold the increase due in power tariff and petroleum prices as it has received intelligence reports suggesting that the increase might spark countrywide protests.
A source told Pakistan Today that the intelligence agencies had told the government that further increase in power and petroleum prices would lead to protests, which could worsen the law and order situation across the country.
“The increase in tariff has been put on hold for the

Price hike for Sonakshi!

Sonakshi Sinha is the most sought after heroine in Bollywood currently. After the super rocker Dabangg (that is the second highest grosser of all time) Sonakshi is being chased by Akshay Kumar, Ajay Devgn, Saif Ali Khan for their future projects.
Akki has signed Sonakshi for Joker, Ajay will be doing a film with her in 2011, Salman has signed her for Kick and Saif will romance her in Race 2. Being in such great demand has also hiked Sonakshi’s price. Though she has just one

KESC looking for a further hike in electricity tariff

KARACHI: The KESC has demanded a further hike in electricity tariff as gas curtailment continue to cause problems. NEPRA had recently augmented the electricity tariff as the KESC incurred additional expenses due to greater utilisation of furnace oil.
Sources have said that the KESC was not given priority in gas supply throughout the current year as supply fell to one fourth of the approved quota. They maintained that the company’s demand for a further hike in tariff was justified

KSE relentless despite hike in discount rate

KARACHI: Despite the hike in discount rate, the benchmark index underwent a massive surge during the week as it gained over 261 points. The average volume was 165 million, significantly greater than the average daily volume for the current year.
The KSE-100 ended Friday at 11,407 level, gaining a weekly 2.3 percent to close at the highest level since July 10, 2008. Average daily volumes rose by 150 million, showing a weekly boost of 27 percent. The index ascent was inexorable as

GST imposition to hike sugar price: PSMA

LAHORE: The Chairman of Pakistan Sugar Mills Association (PSMA) Javed Kayani has cautioned the government that levy of reformed GST on sugar would hike ex-mill price by at least Rs 10 per kg.
This would add to the miseries of consumers who are already groaning under inflationary pressures. PSMA has requested the Federal Finance Minister to obviate sugar from the reformed GST imposition in order to allow price stay at a reasonable level. He gave examples of countries where all

Two percent hike announced in electricity prices

LAHORE: The Ministry of Water and Power on Monday announced a two percent hike in electricity rates, which will be applicable from November 1 onwards.
The electricity price notification issued by the Ministry of Water and Power will come into effect in November 2010 and the increased rate will be included in peoples’ electricity bills for November. The new price hike will affect both domestic and industrial consumers.
The Ministry of Finance said the government was giving Rs

Petition against sugar price hike – Judge says LHC may inspect sugar dealers’ bank accounts

LAHORE: The Lahore High Court (LHC) Justice Sheikh Azmat Saeed on Friday issued notices to the federal and Punjab governments and sought a detailed report until November 22 on a petition challenging the excessive increase in sugar prices across the country.
Due to supply shortage, the commodity was being sold for Rs 130 per kilogramme in the retail market. Justice Saeed observed that the supply shortage was created by the sugar hoarding mafia, which had made money by selling the

LPG price hike adds to people’s woes

LAHORE: An increase in Liquefied Petroleum Gas (LPG) prices by Rs 12 per kilogramme on Wednesday has left the people thunderstruck.
People have expressed displeasure over the decision of the government, adding that the officials did not care about the living conditions of the public. LPG is used in rickshaws and other means of transport used by the lower and the middle class.
Roadside stalls and khokhas also use it in their stoves. An increase in the prices of LPG will

‘Hike in fuel prices will add to common man’s woes’

ISLAMABAD: Inflation is expected to shoot up with the 9 percent increase in prices of petroleum products and 2 percent expected increase in power tariff thus hiking the cost of doing business in other sectors of economy and directly impacting the common man, former finance minister Dr Salman Shah said while talking to Pakistan Today.
Monthly increase in petroleum prices and power tariff has drifted the country to stagnation, he said, adding that it will have adverse effects on

Punjab government resisting 80 percent hike in water tariff

The Punjab government is resisting imposing the 80 percent hike in the commercial water tariff fearing a backlash from the public already unhappy over the government’s performance, Pakistan Today learnt on Friday.
According to a Water and Sanitation Agency (WASA) official, the Pakistan Muslim League-Nawaz (PML-N)-led Punjab government was not deciding the issue of the water tariff for the last six months. He said that the PML-N leaders were attending official meetings