Geo Business

CFY inflation over 14, power costlier 24 pc

KARACHI: Whereas the inflation rate during the current fiscal year remained over 14 percent and electricity went costlier by 24 percent, the petroleum products prices also soared by 28-60 percent. At the end of the last fiscal year, petrol was selling at Rs68 per litre, which shot up to Rs87 per litre i.e. 28 percent hike seen at the end of the current fiscal year. Kerosene, which was Rs65 per litre at the end of previous fiscal year, selling current year at Rs85 per litre showing 29 percent increase, speed diesel mostly used in transportation jumped up to Rs94 per litre from Rs72 an increase of 31 percent, light diesel used for running tube wells was at Rs62 per litre peaked highest this year at Rs88, showing a significant increase by 43 percent, furnace oil used in power generation previous fiscal year selling at Rs44,700 per ton, this year hiked to Rs71,345 per ton i.e. a whopping 60 percent record rise. Petroleum products and furnace oil prices in international market during the year was seen hiking by 22-46 percent.