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ISLAMABAD: The president of India&#39;s main opposition party said Monday that Prime Minister Narendra Modi&#39;s government withheld fuel and commodity price increases until state assembly elections concluded, as back-to-back hikes in petrol and compressed natural gas prices make the lives of average Indians increasingly difficult. <a href="https://www.pakistantv.com/article/opposition-leader-terms-modis-address-travesty-of-democracy-indian-constitution" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Mallikarjun Kharge</a>, the President of the Indian National Congress party and Leader of the Opposition in the Indian parliament&#39;s upper house, said the ruling Bharatiya Janata Party had concealed the state of the economy from voters ahead of the polls.&nbsp; &quot;The Modi government kept everything hidden from the country until the elections, but once the elections were over, prices of everything increased,&quot; Kharge said in a post on X. State-run fuel retailers raised petrol and diesel prices by ₹3 per liter on Friday, citing surging global crude costs driven by the ongoing war in the Middle East. A second hike in compressed natural gas prices followed on Sunday, the second such increase in a single week, according to the Press Trust of India. &quot;If Modi had raised the prices of petrol, diesel, and other commodities before the elections, he would have suffered significant losses,&quot; Kharge said. &quot;The BJP government and Modi lack foresight.&quot; India imports over 80% of its crude oil, leaving it heavily exposed to supply disruptions in the Middle East. Wholesale inflation rose to 8.3%, a three-and-a-half-year high. It was driven by imported oil and metals costs. Meanwhile, retail inflation climbed to 3.4% in March, up from 3.2% in February, according to Consumer Price Index data. The Reserve Bank of India projected average retail inflation at 4.6% for the current fiscal year, above its 4% target. The IMF put the figure higher, forecasting consumer prices to rise 4.7% in 2026. Economic growth has slowed. The World Bank&#39;s April 2026 India Development Update cut its GDP growth forecast to 6.6% for FY27, down from an earlier projection of 7.2%, citing high energy prices and supply chain disruptions tied to the Middle East conflict. The IMF revised its own 2026 growth forecast to 6.5%. Cooking gas prices on the black market, the only source accessible to millions of domestic migrant workers without formal documentation, increased up to five times their pre-crisis levels, from ₹80 ($0.83) to ₹90 ($0.93) per kilogram to as high as ₹500 ($5.19), according to AFP. India has more than 450 million internal migrants, per government estimates, many of whom told AFP they were preparing to leave cities and return to their home states. &quot;Inflation is continuously rising due to the BJP government,&quot; Kharge said. &quot;The poor in the country are not even able to get the essential goods they deserve.&quot;

Mallikarjun Kharge, President of the Indian National Congress, criticized the government led by Prime Minister Narendra Modi over rising fuel and commodity prices, saying increases were delayed until after elections and citing concerns about the economic 

India

Opposition leader Mallikarjun Kharge says the ruling party concealed economic pressures before state polls; 'once the elections were over, prices of everything increased.'

Indian opposition says Modi govt delayed fuel price hikes until after elections

ISLAMABAD: The foreign ministers of Pakistan and Australia discussed&nbsp;<a href="https://www.pakistantv.com/article/pakistans-interior-minister-acting-us-envoy-discuss-security-for-islamabad-talks" target="_blank" style="font-size: 18px; color: rgb(0, 115, 230);" rel="noopener noreferrer">diplomatic efforts</a>&nbsp;and global economic concerns in a telephonic conversation, according to Pakistan&rsquo;s Foreign Office. In a post on X (Twitter), the FO stated that Deputy Prime Minister and Foreign Minister Ishaq Dar held a telephone conversation with Australian Foreign Minister Penny Wong. <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 746px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2046164433161056736&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F5387%2F&sessionId=2ec113e3249d181ef56fbd871bf11bdf7f9e087e&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div> The Australian FM appreciated Dar&rsquo;s efforts and Pakistan&rsquo;s role in facilitating dialogue between Iran and the United States. She commended Pakistan&rsquo;s commitment to promoting diplomatic engagement. The deputy PM briefed Wong about the Islamabad Talks held on April 11-12. He said Pakistan was resolved to continue encouraging dialogue and constructive engagement. Both sides voiced concern&nbsp;about the broader impact on the global economy, particularly for developing countries, amid rising <a href="https://www.pakistantv.com/article/oil-surges-stocks-fall-as-trump-says-to-blockade-strait-of-hormuz" target="_blank">oil prices</a>&nbsp;linked to the&nbsp;<a href="https://www.pakistantv.com/article/usisrael-war-on-iran-day-52" target="_blank">war in the Middle East</a>. They stressed the need for a peaceful resolution to the conflict. Pakistan, Iran agree on continued dialogue&nbsp;Dar also spoke by phone with Iranian Foreign Minister Abbas Araghchi, and the two leaders discussed the importance of continued dialogue to resolve ongoing issues and promote&nbsp;regional peace and stability. <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 770px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2046230832004977095&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=9fa32ab5149900a966a591414bd30eb980fb9c14&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div> On X, the FO reported that both officials agreed on the need for sustained engagement as soon as possible to address pending concerns. Dar stated that such dialogue was important for maintaining peace and stability in the region. Both sides stated they were &ldquo;committed&rdquo; to remaining closely engaged moving forward. Pakistan PM shares updates on peace efforts with EU Meanwhile, Pakistani Prime Minister Shehbaz Sharif spoke with the President of the European Council, Ant&oacute;nio Costa, on Monday evening to discuss Pakistan&#39;s diplomatic outreach and peace efforts in the Middle East. In a post on X, the prime minister provided updates on Pakistan&#39;s ongoing initiatives to promote peace in the region. PM Sharif expressed gratitude for the European Union&#39;s appreciation of Pakistan&rsquo;s efforts and its willingness to support dialogue and diplomacy to ensure peace in the region.&nbsp; <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 393px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2046233350831259702&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=9a12a9851ae831add3a699dcb77f54c65d569c0f&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>

Pakistan's Foreign Minister Ishaq Dar meets with the Australian Foreign Minister Penny Wong on sidelines of the ASEAN Regional Forum on July 13, 2025. (Pakistan High Commission Australia/Facebook)

Foreign Affairs

Pakistan’s Foreign Minister held talks with global leaders, focusing on regional peace, stability, and economic concerns, including the impact of rising oil prices linked to the Middle East War.

Pakistan seeks peace, diplomatic engagement in calls with global leaders

HONG KONG: Oil prices rose and most stocks fell Monday as the Middle East crisis escalated with the entry of Houthis into the Middle East war and investors grew increasingly concerned the United States would send in ground troops. As the conflict moved into its fifth week, the specter of a widening conflict grew as Yemen&#39;s Houthi rebels on Saturday said they had fired &quot;a barrage of cruise missiles and drones&quot; at strategic sites in Israel. The strikes raised concern about the war spreading to the Red Sea, with Saudi Arabia rerouting much of its oil exports there to avoid the Strait of Hormuz, through which about 20% of crude and gas passes has been effectively closed. The news sent the price of oil Monday to its highest level since earlier in the month after the United States and Israel began their strikes against Iran. Both main contracts jumped more than 3% at one point, with Brent hitting close to $117 a barrel, before easing back. Adding to the dour mood were US President Donald Trump&#39;s remarks to the Financial Times (FT) that he wanted to &quot;take the oil in Iran&quot; and could take the country&#39;s Kharg Island &quot;very easily&quot;. Kharg Island, located off the west coast of Iran, is a vital oil terminal for the country and is being eyed by the Pentagon for ground operations, though the United States insisted it would stop short of a full-scale invasion. &quot;Maybe we take Kharg Island, maybe we don&#39;t. We have a lot of options,&quot; he told the FT. &quot;It would also mean we had to be there for a while.&quot; While Pakistan said Sunday it was ready to broker and host &quot;meaningful talks&quot; between Washington and Tehran to end the war, Iran&#39;s parliament speaker Mohammad Bagher Ghalibaf said the United States was &quot;secretly planning a ground attack&quot;. The surge in oil prices and the prospect of an extended conflict put more pressure on equities amid fears about a surge in inflation that could hit the world economy. Tokyo sank more than 4% and Seoul more than 3% before paring the losses while Hong Kong, Sydney, Mumbai, Bangkok, Wellington, Taipei, Jakarta and Manila were also down. London, Paris and Frankfurt opened slightly lower. The losses followed a bad day on Wall Street, where all three main indexes tumbled after the United States and Israel struck Iranian nuclear sites. &quot;The market is now reacting to higher crude pricing and towards the fallout in the economic consequences,&quot; wrote Pepperstone&#39;s Chris Weston. &quot;Higher short-term inflation expectations, volatility in the interest rate markets, and growing concerns around supply shortages/inventory and the subsequent impact on the March/April economic data series and corporate earnings is now front and center,&quot; he added. &quot;The Houthi&#39;s ability to disrupt shipping through the Bab al-Mandeb strait, which accounts for roughly 12% of global trade, is the new key risk&quot; he said, referring to the waterway between Yemen and the Horn of Africa. &quot;Any meaningful disruption, married with a sharp rise in insurance costs, could drive another leg higher in crude and further pressure risk assets.&quot; The selling came after a relatively calm period last week after Trump delayed until next month a threatened attack on Iran&#39;s energy infrastructure citing progress in talks with Tehran. Skye Masters at National Australia Bank said: &quot;Trump&#39;s decision to extend the pause in Iran&#39;s energy sector... has clearly not been enough to support investor sentiment where the focus is turning to the global economic impact of such a shock &ndash; this is now not just about the price of oil it includes fertilizer, petrochemicals, metals.&quot;

An electronic quotation board displays the Nikkei Stock Average on the Tokyo Stock Exchange along a street in Tokyo on March 30, 2026. (AFP)

Business

Oil prices surge and global stocks fall as Houthi attacks escalate Middle East War, raising fears of wider war, disrupted shipping, inflation pressures, and potential US ground intervention in Iran.

Articles tagged with "global fuel crisis"

Indian opposition says Modi govt delayed fuel price hikes until after elections

Pakistan seeks peace, diplomatic engagement in calls with global leaders

Crude rises, stocks drop as Houthi attacks escalate Iran war

Indian opposition says Modi govt delayed fuel price hikes until after elections