The Finance Minister cushioned the news by reiterating that the last four months had seen diesel and kerosene oil prices decrease but the current devaluation left no further options besides a price hike. In a desperate measure to secure external financing, draft ordinances to impose new taxes have also been prepared. Newer taxes and the ordinances being prepared will further target these industrialists and the outcome can be distressing. International commodity prices are always in flux as the economy readjusts to global trends, exchange rates, and more. Now, with fuel prices, other imported goods will follow the trend and inflation is likely to be pushed more.

Source: The Nation January 29, 2023 20:44 UTC