Pakistan Fuel Shortage: Pakistan is experiencing its most severe economic crisis in recent history. However, another blow may hit Islamabad soon as it is staring at an oil crisis, according to a latest news report. The country’s Petroleum Division has called upon the Chairman of the Oil and Gas Regulatory Authority (Ogra) to initiate regulatory measures against OMCs operating outlets facing shortages in order to address the situation., Economy News, Times Now
Pakistan s Ministry of Finance has warned of challenges originating from uncertain external and domestic economic environments, including higher inflation and external debt repayments, due to lesser foreign exchange inflows, according to Geo News. The ministry, in its monthly outlook bulletin, projected that the inflation for the month of May will remain in the range of 34-36 per cent.
Get latest articles and stories on World at LatestLY. According to HRW, the IMF should work with the Pakistan government by broadening protection systems and minimising reform measures that risk further harm to the most vulnerable people. World News | IMF Should Work with Pak Govt to Strengthen Social Protection: Human Rights NGO.
Long queues were witnessed outside petrol pumps in Pakistan amid a rumours that prices of petrol and diesel are expected to go up by Rs 45-Rs 80 on February 1.