Prices of oil and gas may rise up to 10%

ISLAMABAD: An association of compressed natural gas (CNG) dealers has voiced the fear that letting the rupee fall against the US dollar will lead to a price hike in petrol and gas – cumulatively the largest commodities imported into the country.

“The dollar’s strength will increase poverty and jack up costs of all projects including the economic corridor,” cautioned All Pakistan CNG Association central leader Ghiyas Abdullah Paracha in a statement on Monday.

He pointed out that energy was the largest import commodity and erosion in the currency exchange rate would push up energy prices which had already started increasing in the international market.

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