Protests have broken out at petrol pumps after the government increased fuel prices by Rs 60 in the second straight hike within a week.
Miftah Ismail, the Pakistan’s finance minister, revealed that the price of petrol has been increased by Rs 30 to Rs 209.86, just a few days after the commodity’s rate was increased by the same amount.
In a news conference, Ismail announced that Prime Minister Shehbaz Sharif has approved a Rs 30 per litre increase in the price of petrol, diesel, and light diesel, as well as a Rs 26.38 per litre increase in the price of kerosene oil, beginning June 3.
“The only product that isn’t costing the government money is kerosene oil. However, we are losing Rs 8 per litre of light diesel, Rs 9 per litre of petrol, and Rs 23 per litre of high-speed diesel,” he stated.
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New petrol prices (per litre):
Petrol — Rs209.86
Diesel — Rs204.15
Light diesel — 178.31
Kerosene oil — Rs181.94
The finance minister admitted that the increase in fuel prices will have the greatest impact on the lowest income section of society, but added that the price of oil has also surged on the worldwide market.
In response to a question, the finance minister stated that he hoped to reach a deal with the IMF in June, but that the government still needed to implement some revisions.
“Because the IMF wants to see our budget, the reforms we want to implement will be implemented prior to the budget. We do, however, communicate with the IMF on a daily basis “he stated
Ismail claimed the hike in petrol prices was unavoidable because he needed to reach a deal with the IMF since ex-finance minister Shaukat Tarin had “tied the government’s hands” with the IMF deals he signed during his time.
‘Protest Against Govt’s Anti-People Policies’
Former Prime Minister and PTI Chairman Imran Khan, reacting to the government’s move to raise the price of petroleum products, called on the public to take to the streets tomorrow to protest the government’s “anti-people policies of massive price hikes to grind the public and wreak economic havoc in the country.”
JI Responds to Petrol Price Hike
Siraj ul Haq, the Ameer Jamat-e-Islami, also chastised the government for the price hike, calling it “shameful.”