The petrol price in crisis-hit Pakistan crossed Rs 305 mark and now stands at Rs 305.36. The Pakistan caretaker government has raised petrol price by Rs 14.91 per litre and high-speed diesel (HSD) price by Rs 18.44 per litre, Dawn reported.
No revision was specified in the rates of kerosene or light diesel oil.
Within the last year, the price of an essential commodity, wheat, has soared by a significant 130 per cent. At the same time, there has been an increase of 108 per cent in gas bills, and prices of tea, rice, and sugar have individually escalated by 90 per cent and 80 per cent respectively.
Meanwhile, inflation in electricity prices in Pakistan has been increasing progressively and the electricity bill for July can be likened to the symbolic icing on the cake of an economy that is battling with escalating prices of gas, foodgrains etc, The The News International reported.
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Within the last year, the price of an essential commodity, wheat, has soared by a significant 130 per cent. At the same time, there has been an increase of 108 per cent in gas bills, and prices of tea, rice, and sugar have individually escalated by 90 per cent and 80 per cent respectively.
The News International report stated that the electricity bill is not truly an electricity bill, as only 20 per cent of the total pertains to actual electricity consumption, while taxes make up 30 per cent, and a substantial 50 per cent is attributed to government inefficiencies.
Around the year 2008, the circular debt within the electricity sector stood at 100 billion Pakistani Rupees (PKR). In 2023, this number has surged to an astonishing PKR 2,400 billion. The steep escalation holds a shared accountability of every political government that has been in control from 2008 to 2023 for the intricate crisis that has engulfed the nation.
Here's a partial list of countries where electricity pricing and related issues have led to protests and demonstrations over the years: Venezuela, Chile, Brazil, Argentina, Mexico, South Africa, Nigeria, Sudan, Egypt, India, Bangladesh, Nepal, Ukraine, Russia, Greece, Spain, France, Italy, Turkey, Iran, Iraq, Jordan, Lebanon, Yemen, Zimbabwe, Kenya, Ethiopia, Indonesia, Philippines, Thailand, Cambodia, Haiti, Colombia, Peru, Bolivia, Ecuador, Guatemala, Honduras and Paraguay, The News International reported.
The protests in countries like Venezuela, Chile, and Brazil highlight how even resource-rich nations can stumble when it comes to managing their energy sectors.
(With inputs from ANI)