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Article summary:
1. The federal government has increased the price of petrol by Rs22.20 and high speed diesel (HSD) by Rs17.20, as well as kerosene and light diesel oil by Rs12.90 and Rs9.68 respectively.
2. The increase in prices is due to Pakistani rupee devaluation applicable for the calculation of current pricing period.
3. A senior economist with Moody’s Analytics believes that an IMF bailout alone is not enough to get the economy back on track, and fiscal and monetary austerity will continue well into 2024.
Article analysis:
The article is overall reliable, providing accurate information about the recent increase in prices of petroleum products in Pakistan due to Pakistani rupee devaluation, as well as a statement from a senior economist with Moody’s Analytics about the need for persistent economic management beyond an IMF bailout alone in order to get the economy back on track. However, there are some potential biases present in the article which should be noted. Firstly, it does not provide any counterarguments or alternative perspectives on the issue; instead it presents only one side of the story without exploring other possible points of view or solutions to this problem. Secondly, it does not provide any evidence for its claims or statements made by experts; while it cites a press release from the Finance Division, it does not provide any further evidence or sources to support its claims or statements made by experts such as Katrina Ell from Moody’s Analytics. Finally, there is also some promotional content present in the article which could be seen as biased towards certain companies or organizations; for example, at the end of the article there is a suggestion to follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook which could be seen as promoting these platforms rather than providing unbiased information about this issue.