A decision of the interim government created an outcry in Pakistan, petrol was being sold at Rs 290 a liter
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It was to be announced by the Government of Pakistan on 21 July. But even at that time the officials were of the opinion that the citizens should not suffer by increasing the already expensive rates.
The government in Pakistan has given a big blow to the citizens. The price of petroleum products has been increased by Rs 20 per liter on the second day of Independence Day celebrations in Pakistan. Petrol has gone up by Rs 17.5 per liter and diesel by Rs 20 per liter after the announcement. According to the new rate, now petrol is Rs 290.40 and diesel is Rs 293 per litre. Pakistan government has not been able to bring Russian crude oil to Pakistan. The Government of Pakistan has said that this oil is not of good quality. Due to this, the refinery companies of Pakistan are refusing to refine oil from Russia. The condition of Pakistan is very bad at this time. According to economists, Pakistan’s economy is in this condition due to poor financial management for many years. At the same time, the condition of Pakistan worsened due to Corona epidemic, global energy crisis.
It was to be announced by the Government of Pakistan on 21 July. But even at that time the officials were of the opinion that the citizens should not suffer by increasing the already expensive rates. But finally the price of petrol was increased from 16th August. The Finance Ministry released the revised prices late in the night following the approval of caretaker Prime Minister Anwarul Haq Kakar, who was sworn in recently. Attributing the price hike to the increase in international petroleum prices in the last two weeks, the Finance Division justified the increase in the prices of these key fuels. However, the government’s notification did not mention any revision in the prices of kerosene and light diesel oil.
This recent hike in petroleum prices follows a similar hike imposed by the previous government on August 1. As a result, fuel prices have increased by around PKR 40 per liter within a period of just 15 days. Despite the agreement with the International Monetary Fund (IMF), Pakistan’s economic decline continues due to rising political uncertainties. Though Shehbaz Sharif has handed over power to a caretaker government, there is no clarity yet on the election schedule. Questions are also being raised over the future of former Prime Minister Imran Khan, who is in jail and has been barred from contesting elections.
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