Pakistan government is bearing a loss of Rs 12 billion in the wake of surge in oil prices in the international market said Pakistan CEO Gen Pervez Musharraf, adding that the government has to raise petroleum prices. Musharraf said talking to media that the prices of some items would be raised but compared to neighbouring countries like India and Bangladesh the index was yet showing positive signs. He however said the rates of kitchen items would remain stable. “The rationale of increase of flour prices was due to raise in wheat support price passed on to the farmers and which was in tune of Rs 60 billion,” he said.
Bureau Report