ISLAMABAD: People are set to face another wave of price surge as the government is reported to have decided to allow about 5 per cent increase in prices of petroleum products and more than 16 per cent hike in electricity tariff from April 1.
Already reeling under a double-digit inflation of over 11 per cent, particularly driven by an increase in prices of essential food items and energy, consumers are finding it difficult to absorb price shocks with their income remaining static because of negligible economic growth. As a result, the budgeted target of containing inflation within single digit is unlikely to be achieved, sources in the government told Dawn.
