After the recent Rupee breakdown against mighty dollar, the incumbent government left with no choice but to extend the austerity measures. however, not-well-thought economic strategies have nudged the federal government to inflict a ban on purchase of new vehicles till June’24.
As per the media reports, the ban is effective immediately. Prime Minister’s office (PMO) issued a circular to all ministries and divisions informing the recent measure.
It is related to mention that the move is just restricted to federal government and the Foreign Ministry and diplomatic mission are spared from this 16-month ban. Previously in January, the Punjab Finance Department took the same measure and announced an informal ban on the purchase of new vehicles.
Furthermore, the media has further informed that the Finance department of the province gas rejected all the summaries to precure new vehicles and all the departments are directed to not send such summaries.
New Petrol Price Is Expected
State Minister for Petroleum, Dr. Musadik Malik, has warned of another increase in petrol price in Pakistan after the recent depreciation of PKR against the USD. Yesterday, the Pakistani rupee dropped by Rs. 18 in a single day, reaching Rs. 285 per USD. Talking to a news channel, the minister said that the rupee’s dismal performance might lead to a jump in fuel prices in the coming days.
Sharing the reasons, Malik said that political instability is the main reason for the sudden increase in the price of the US dollar. “It is difficult to run the country in such an uncertain time,” he added.
The minister also stated that the government is in talks with Russia to buy cheap petrol and gas” “The talks with Moscow are progressing”,” he said.
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