Soaring fuel prices in Pakistan threaten economic and political crises (www.aljazeera.com)
from TheTimeKnife@lemmy.world to world@lemmy.world on 30 Apr 16:35
https://lemmy.world/post/46254115

The most serious fuel price shock to hit Pakistan in more than half a century threatens to unleash a flood of cascading crises that could batter all aspects of the economy and undermine the government of Prime Minister Shehbaz Sharif. Earlier this week, Sharif said Pakistan’s oil import bill had surged from $300 million before the conflict to $800 million now, which he said erased all the economic progress the country had made over the past two years. Analysts say the knock-on effects will be increasingly severe, impacting everything from agriculture and transport to the price of food and basic goods, worsening the plight of families already facing a cost-of-living crisis.

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