Pakistanis reject petrol price hike, worry about inflation

KARACHI: Worried at the latest hike in petrol prices and terming it an anti-people step, many are calling on the government to withdraw the increase forthwith.

According to Geo News, people are worried about the inflationary situation due to the hike, as the increased petrol prices come into effect from today. 

Many criticised the government for not considering the difficulties faced by the common man.

The price of petrol in Pakistan will go up by Rs2 per litre starting July 1, according to Special Assistant to Prime Minister of Pakistan on Political Communication Shahbaz Gill.

Gill had announced that the Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs6.05, but Prime Minister Imran Khan rejected it, instead approving an increase of Rs2 per litre for petrol.

The SAPM said that the recommended increase by OGRA was in accordance with a rise in fuel prices in the international market.

According to the PM’s aide, the recommendation also included an increase of Rs3.44 for the price of diesel but the prime minister approved an increase of Rs1.44.

A notification issued by the Ministry of Finance said that kerosene oil would see an increase of Rs3.86, whereas light diesel oil would go up by Rs3.72.

Tarin warns of hike in prices

Earlier in June, Minister for Finance Shaukat Tarin had indicated that the prices of petroleum products will increase in the coming month as talks with the International Monetary Fund (IMF) continue over the stabilisation of revenue collection.

Talking on Geo News programme "Naya Pakistan", he said the petroleum levy would be increased up to Rs600 billion in the coming fiscal year so the levy will have to be jacked up in the range of Rs20 to Rs25 per litre, while currently a Rs5 per litre levy was being charged.

When asked whether Pakistan will pull out of the IMF programme if the Fund rejects the proposals and sticks to its demands, the finance minister said Pakistan will not exit from the programme.

He said Saudi Arabia had agreed to provide oil on deferred payments, but it could not be ascertained how much oil Pakistan will get.

PPP Chiarman Bilawal Bhutto Zardari while condemning the increase in Petroleum prices and said the first shock of the anti-people budget has come with the increase of petroleum products.

“Today Petrol prices up by Rs2 and gradually prices of all essential items including electricity and gas will go further high,” he said while condemning the rise in prices of the petroleum products.