Pakistan residents struggle to make a living amid soaring fuel prices

South China Morning Post published this video item, entitled “Pakistan residents struggle to make a living amid soaring fuel prices” – below is their description.

The recent rise in imported petrol and diesel prices has taken a toll on residents in Pakistan as the country’s rupee plummeted 12 per cent a week earlier. Government officials have said the move aims to combat the higher cost of energy in the global market. But many Pakistanis fear that the fuel price hike could unleash a new wave of inflation, with analysts saying the government may have to raise energy prices further to secure additional loans from the International Monetary Fund (IMF).

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About This Source - South China Morning Post

The South China Morning Post (SCMP), with its Sunday edition, the Sunday Morning Post, is a Hong Kong-based English-language newspaper founded in 1903. It is Hong Kong’s newspaper of record, owned by Alibaba Group.

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In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It has a population exceeding 212.2 million, including the world’s second-largest Muslim population. It has an area of 881,913 square kilometres (340,509 square miles).

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