Petrol and diesel prices rise again in Pakistan
Exactly five days before today, on October 31, a statement was issued from the Prime Minister's House stating that Prime Minister Imran Khan had rejected OGRA's summary of the increase in petroleum products, saying that fuel in the international market The burden of rising prices will not be placed on the people.
''The government is giving priority to providing relief to the people instead of passing on the effects of global inflationary pressures to the people''. the statement added that,
Following the statement from the Prime Minister's Office, the ruling party discussed the decision and lauded the "people-friendly" decision on social media.
However, this happiness turned to camphor last night when the government issued a new notification to increase the prices of petroleum products, according to which the price of petrol has been increased by Rs 8.03 per liter.
After last night's increase, the price of petrol has gone up from Rs 137.79 per liter to Rs 145.82 per liter, which is a new record.
In addition, the price of diesel was also increased by Rs 8.14 per liter, after which the new price of diesel became Rs 142.62 per liter.
It should be noted that the prices of oil products in Pakistan are reviewed on the first and 15th of every month. Most of the people were thinking in the context of the decision taken by the Prime Minister five days ago that the price may not go up for at least the next 15 days but it was not possible.
Why are petrol and diesel prices constantly rising in Pakistan and what are the reasons for the recent rise in oil prices in the world market? Before we get to know all this, let's take a look at social media where consumers are not only criticizing the recent increase, but there are also some who are not letting go of the humorous aspect even in the current situation of inflation.
User Obaid-ur-Rehman shared a funny cartoon in which four people can be seen sitting on a motorcycle. Motorcyclists are telling the policeman that they are willing to pay a fine in exchange for seating four people on the ride of two men, but they cannot pour petrol in four motorcycles.
Consumer Asfandyar wrote that fierce competition is going on in petrol and sugar prices, both of which are currently at 145.
Ahmed Waleed says in the context of the recent increase, “the government dropped a petrol bomb in the dark of night. It was as if the enemy had attacked. "
Consumer Saeed Masood wrote that the government announced a relief package yesterday but on the other hand increased the prices of petroleum products which is an injustice. He said that this would create a new wave of inflation.
Like ordinary consumers, leaders of political parties sharply criticized the rise of petroleum products in the National Assembly on Friday and slammed the ruling part.
Why is the price of petrol and diesel rising in Pakistan?
Talking about the steady rise in petrol and diesel prices in Pakistan, Sana Tawfeeq, an economic analyst at Arif Habib Securities, said a few days ago that the biggest reason in Pakistan is the global crude for the high cost of petrol and diesel. Oil prices are rising.
He had said that these rising prices were also having an effect on Pakistan, however, the depreciation of the rupee against the dollar in Pakistan was also making crude oil imports more expensive.
Dr. Ikram-ul-Haq said that Pakistan was importing petroleum products worth 11-12 billion a few years ago and now the import bill for these products has gone up to 19-20 billion, which means that the government is more at the import stage. Tax on petroleum products.
Dr. Ikram had said that if the government is not collecting more tax on petroleum development levy, it will face difficulties because it has to collect it from the IMF under certain conditions and the ones received under the IMF program. The installment is very important to reduce the financial deficit.