This is the third reduction in fuel subsidy by the government led by Prime Minister Shahbaz Sharif in about 20 days.
Petrol-diesel became expensive in Pakistan for the third time in the last 20 days, the price of one liter of oil will surprise
In order to get funding from the International Monetary Fund (IMF), the Government of Pakistan has increased the fuel prices by up to 29 percent by eliminating subsidies. The government has taken this step to reduce the fiscal deficit and revive the economy which is facing the cash crunch . After this increase, the price of petrol in Pakistan has exceeded Rs 250 per liter.
In the neighboring country Pakistan, there is a record-breaking increase in inflation every day. Inflation has broken the back of the common people there. Meanwhile, the Pak government has once again increased the price of petrol. This is the third time in the last 20 days that the government has decided to increase the price of petrol. This time the price of petrol has been increased by Rs 24.03 per liter. With this, the new price of petrol in Pakistan has reached its record level. The new price of petrol has gone up to 233.89 per liter.
This is the third cut in fuel subsidy in about 20 days by the government led by Prime Minister Shahbaz Sharif. Finance Minister Miftah Ismail said that the new prices have come into effect from midnight on Wednesday, June 15. Petrol prices have increased by Rs 24 per liter and diesel (HSD) by Rs 59.16 per liter. Both these fuels are used directly or indirectly by all the people. Petrol prices were already increased by Rs 60 on May 25. The new price of petrol has been fixed at Rs 233.89 per liter, HSD at Rs 263.31 per liter and kerosene or kerosene at Rs 211.47 per litre.
The Finance Minister said that the prices of all products have now been brought down to their purchase price and the element of subsidy or price differential has been eliminated. Prime Minister Sharif on Thursday defended the unpopular moves, saying the government had no choice. He blamed it on those who had made the worst deal ever with the IMF. He said that if we do not increase oil prices, then the country may face a ‘default’.
The government is not in a position to subsidize
petrol and other petroleum products, Pakistan’s Finance Minister Miftah Ismail announced on Wednesday. In the event of non-subsidy, the government is left with no other option but to increase the price of petrol, so now the prices of petrol are being increased.
Apart from petrol, the price of these things also increased
Finance Minister Miftah Ismail said that apart from petrol, the price of diesel has increased by Rs 59.16. The new price of diesel has gone up to Rs 263.31. Kerosene will be available at Rs 211.43 per liter which is Rs 33.12 more than the old price. Along with this, the price of light diesel has also increased. The new price has increased by Rs 25.53 to Rs 207.47 per liter. The minister also told that this price will be applicable from June 16.
While announcing the new price of petrol, Miftah Ismail strongly criticized the previous Imran government . He blamed the wrong policy of Imran government for rising inflation in Pakistan. Accusing the Imran Khan government, he said that the present government is facing the brunt of the mistake of the previous government.
While Imran’s party termed it a robbery
Imran Khan’s party has also reacted to the rising prices of petrol and diesel. Fawad Chaudhry, a leader close to Imran, tweeted that his party refuses to accept the rising prices of petrol and diesel. This is outright loot, which we reject.