As of April 28, 2023, the prices of petroleum products in Pakistan are as follows: MS (Petrol) – Rs282 per liter, High Speed Diesel Oil (HSD) – Rs293 per liter, Kerosene (SKO) – Rs186.07 per liter, and Light Diesel Oil (LDO) – Rs174.68 per liter.
These rates will remain valid until April 30, 2023, as the government is scheduled to revise prices for the first half of May.
The recent hike in prices on April 16, 2023, was due to the fluctuating global market prices of petroleum and exchange rate variation, as Pakistan is a net importer of petroleum products. However, this increase has caused concern among the poor masses, who are already struggling due to the ongoing economic crisis. The timing of the price hike just ahead of the Muslim festival Eid-ul-Fitr has added to their difficulties, as it will be difficult for them to travel and buy essential commodities during the festive season.
To address this issue, the government is working on a scheme to provide subsidized rates of petroleum products to lower-income groups. Suggestions under consideration include 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 taking measures 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. While the government is taking steps to provide subsidized rates of petroleum products to lower-income groups, urgent action is needed to address the economic crisis and provide relief to the people. The government should focus on increasing exports, attracting foreign investment, and improving the business environment to create job opportunities and boost economic growth. It should also take measures to control inflation and stabilize the exchange rate to provide relief to the people.
