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Pakistan
The retail inflation in Pakistan surged to a 30-month excessive of 13.76% in Might 2022.
The Pakistani Rupee fell to an all-time low of Rs 210 towards the US $. As well as, Pakistan acquired decrease remittances in Might amid a yawning present account deficit (CAD).
The federal government, in a latest transfer to curb inflation, has requested residents to drop the common consumption of tea since Pakistan is among the main importers of tea.
The shopkeepers in Karachi are additionally being requested to shut the retailers to be able to preserve electrical energy.
Sri Lanka
Sri Lanka has been going via its worst monetary disaster since its Independence. To tame the inflation which got here in at 33.8% on an annual foundation, the island nation too launched a set of measures.
The Sri Lankan authorities has urged residents to work four-days per week and choose to domesticate the barren land which might ramp up meals manufacturing within the nation.
A 2.5% social contribution tax has additionally been imposed on corporations by the federal government as one of many measures to carry down the inflation numbers.
Scarcity of commodities like paper, medicines, meals and gas in Sri Lanka led to a two-week shutdown of colleges and places of work.
Nepal
The CPI-based inflation in Nepal surged to a six-year excessive of seven.87% in Might this 12 months on the again of supply-side points attributable to the continuing Russia-Ukraine conflict.
The federal government has elevated the passenger transport fare by 5.30% in its newest transfer to curtail the rising inflation.
The Nepal authorities has been wanting ahead to rising its international alternate reserve in order that it might use the quantity for imports. A contribution of $10,000 to Nepali banks from every Nepali nationwide dwelling overseas might assist the nation go a good distance, mentioned Nepal’s authorities.
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