The government Saturday announced an increase of Rs10 per liter in petrol prices ahead of Eid-ul-Fitr, a Muslim festival celebrated worldwide.
This decision has sparked outrage among the people, particularly the poor masses, who are already struggling to make ends meet due to the ongoing economic crisis.
According to a notification issued by the Finance Division, the increase in petroleum prices in the international market and exchange rate variation led to the revision of petrol prices. As Pakistan is a net importer of petroleum products, any change in exchange rates and international oil prices can impact domestic prices.
The new price of petrol is Rs282 per liter, effective from April 16, 2023, up from the previous price of Rs272 per liter. The price of kerosene has also been increased by Rs5.78 to Rs186.07 per liter from Rs180.29. However, the prices of High Speed Diesel (HSD) and Light Diesel Oil (LDO) have been kept unchanged at Rs293 and Rs174.78, respectively.
The timing of the increase in petrol prices just ahead of Eid-ul-Fitr has caused concern among the people. The festival is an important occasion for Muslims to celebrate with their families and loved ones. The increased prices will make it difficult for people to travel and buy essential commodities during the festive season.
The government’s decision to hike the prices of those fuels that directly impact the poor masses has come under criticism from various quarters. The poor and working-class people who are already struggling to make ends meet will now have to bear the brunt of this decision.
However, the government has assured that it is working on a scheme to provide petroleum products at subsidized rates to lower-income groups. The Minister of State for Petroleum, Musadik Malik, recently stated that various suggestions are under consideration, including using the Benazir Income Support Program (BISP) network, issuing specific subsidy cards, or generating a one-time password (OTP) for eligible citizens’ ease.
The government is also working to ensure sufficient supply of petroleum, discourage black marketing, and hoarding of fuel. The revision in petroleum prices for the second half of April 2023 is expected to be announced soon, and consumers are advised to prepare for a possible increase in prices.
In conclusion, the recent increase in petrol prices in Pakistan has caused concern among the people, particularly the poor masses. The government’s decision to hike prices just ahead of Eid-ul-Fitr has come under criticism, and it is working on a scheme to provide petroleum products at subsidized rates to lower-income groups. The government is also working to ensure sufficient supply of petroleum, discourage black marketing, and hoarding of fuel. Consumers are advised to prepare for a possible increase in petroleum prices in the second half of April 2023.
Present coalition government doubles petroleum prices in Pakistan
