Another massive increase of Rs 30 per litre in petrol prices
Petrol price crossed Rs 200 for the first time to reach at Rs 209.86 per litre and diesel at 204.15 per litre
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The
government has approved another massive increase of Rs30 per litre in the
prices of petrol and diesel. Finance
Minister Miftah Ismail announced increase the price of petrol to Rs209.86 per
litre and diesel Rs 204.15 per litre in a press conference today.
Prime
Minister Shehbaz Sharif has approved hiking the rates of petrol, diesel, and
light diesel by Rs30 per litre. However, the price of kerosene oil has
increased by Rs26.38 per litre. The government has increased Rs 60 per litre in
the prices of petrol and diesel in last two weeks.
To resume
the IMF programme and to obtain more loans the government has massively
burdened the ordinary people. A new wave of price hike will badly hit the
working people and lower middle class. The low income people will be hardest
hit by the price hike.
Kerosene oil
is the only commodity which is not leading to losses for the government.
However, we are facing losses of Rs8 on light diesel, Rs9 on petrol, and Rs23
on high-speed diesel," said Ismail.
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In response
to a question, the finance minister said he was hopeful of reaching an
agreement with the IMF in June, but noted that there were some reforms that the
government still had to do.
"The
IMF wants to see our budget, so the reforms that we want to introduce will be
introduced before the budget. However, we are speaking to the IMF on a daily
basis," he said.
Ismail said
the price hike was inevitable as he had to strike a deal with the international
money lender as ex-finance minister Shaukat Tarin had "tied the
government's hands" due to the agreements he made with the IMF during his
tenure.
The new
prices of petroleum products:
Petrol — Rs209.86 per litre
Diesel —
Rs204.15 per litre
Light diesel
— Rs178.31 per litre
Kerosene oil
— Rs181.94 per litre
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