The US President says many Americans share concerns about Netanyahu's handling of the Gaza war
Pakistan's ministry of finance announced on Sunday petrol and diesel prices would rise by 35 rupees ($0.1400) a litre after the country's currency value plummeted this week when price caps were removed.
The decision came days before an International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country's current funding programme.
Last week, the Pakistani rupee lost close to 12% of its value after the removal of price caps that were imposed by the government but which were opposed by the IMF.
Finance Minister Ishaq Dar said at a press conference on Sunday he hoped the announcement would dispel speculation on social media of a higher price hike or that petrol supplies would run dry. He said the hike was recommended by oil and gas authorities due to the higher cost of buying energy in the global market.
"We will have to take the rise in international oil prices and the devaluation of the rupee into account," he said.
"This rise is being done immediately on the recommendation of the oil and gas regulatory authority who said there were reports of artificial shortages and hoarding of fuel in anticipation of price rises - hence this price rise is being done immediately to combat this."
The day before, Reuters witnesses reported some petrol stations had long lines outside as residents filled their tanks due to speculation that prices would soon rise.
Pakistan is in the midst of a balance of payments crisis and the plummeting value of the Pakistani rupee will push up the price of imported goods. Energy comprises a large part of Pakistan's import bill.
A successful IMF visit is critical for Pakistan, which is facing an increasingly acute balance of payments crisis and is desperate to secure external financing, with less than three weeks' worth of import cover in its foreign exchange reserves.
ALSO READ:
The US President says many Americans share concerns about Netanyahu's handling of the Gaza war
US said it was concerned about the law, citing respect for religious freedom and equal treatment as a fundamental democratic principle
The fast food chain has about 40,000 restaurants worldwide, with more than 14,000 stores in the United States
BJP top receiver with Rs120 billion; lottery and gaming firm Future Gaming and Hotel Services tops the list with donation of Rs13.68 billion
Petroleum ministry says the reduction by Rs2 will help control inflation and increase consumer confidence and spending
Police say suspected victims of human trafficking were forced into conducting various online scams at a centre in Manila
The depth of the quake was estimated at 10km, the German Research Centre for Geosciences said
António Guterres delivered the message on the occasion of the International Day to Combat Islamophobia, which is on March 15