Spiralling inflation to hit masses, News 360 survey with Economists reveal

Dollar rate is up to 269 rupees, the highest in history, but the party has just started, the goods of thousands of containers at the port are more expensive by 20%, rate of petrol and diesel is 40 to 60 rupees per liter. It will become expensive and destroy industries, and fears of inflation increasing by 12% have increased.

According to a survey by News360, various industrialists, traders and economists have predicted more difficulties for the people and the economy due to increase in exchange rate of dollar.

According to experts, due to exchange rate of dollar reaching 269 rupees, debt burden on Pakistan has increased by another 4400 billion rupees.

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According to News 360 survey, experts say that due to expensive exchange rate of dollar, petroleum products will become more expensive and there is a fear that exchange rate of the dollar may cause an increase of up to 20 percent in petroleum products.

Economists say that condition of the IMF is to impose sales tax on petrol and diesel, but there are already fears that the exchange rate of the dollar may make petrol and diesel expensive by Rs 40 and Rs 60 per litre.

Energy experts have told News360 that the exchange rate of the dollar is also likely to make LNG more expensive to import, and the latest evidence of this is that ENI’s LNG spot arriving at the port on Thursday The cargo has been refused because it is expensive. Now with more expensive dollar, LNG cargoes will become more expensive to import.

The transporters surveyed by News360 said that the exchange rate of the dollar will increase the price of petrol and diesel and due to this, the delivery cost will increase. Due to increase in delivery cost of daily use items, prices of items will increase.

According to the News 360 survey, the cost of electricity production will increase due to the exchange rate of furnace oil, imported coal, imported LNG and diesel being expensive and the cost of electricity will increase the production cost of industries. Due to the high cost of electricity, all the products produced in the industries will become expensive. Electricity will be expensive for industrial consumers as well as for commercial consumers and higher electricity rates for shops will cause further inflation in wholesale and retails.

According to economists, due to the exchange rate of the dollar being expensive, the import of raw materials will be expensive and this will also cause an increase in industrial production and the production of motorcycles, vehicles, tires, electronics, and construction materials will become more expensive. , the rates of mobile phones manufactured in Pakistan will become more expensive.