ISLAMABAD: The government has announced big increase in the petroleum products’ prices for the next fortnight. The new prices came into effect from mid night on Wednesday.
According to an announcement made here by the Finance ministry on Wednesday , prime minister, Imran Khan, approved the new increase in the petroleum products’ prices.
A notification issued by the government for the new petroleum products- prices said the petrol rates have been enhanced by Rs 5 per litre which pushed its retail price to Rs 123.30 a litre. HIgh speed diesel rates have been increased by Rs 5.01 per litre. With the new increase, the prices of high speed diesel go up to Rs 120.04 a litre. Likewise, the rates of kerosine oil were revised upward by Rs 5.46 to take its new price to Rs 92.26 per litre.
Light speed diesel rates per litre have been increased by Rs 5.92 . Its new price has been fixed at Rs 90.69 a litre.
This is for the first time in the Pakistan Tehreek e Insaf (PTI) three years rule that the prices of all petroleum products have been imcreased minimum by Rs 5 per litre for each petroleum product. in the past three years, the PTI government mostly made adjustments to minimise impact of rising petroleum products’ prices.
Wednesday’s big upward revision has a painful mesaage for the masses who are already moaning under unbearable financial burden due to unmanageable price-hike added with rise in unemployment in the country. The people are already feeling difficult in managing day -to- day affairs due to shrinking income and rising prices of items of their daily use. The new big increase in the petroleum products would have apiral effect on every thing in Pakistan.it would forces transporters to imcrease fair for their passengers. Similiarly, traders will increase rates of their each product proportionate to the increase in petroleum products prices that will simply add to financial vows of the people.
Pakistan People Party (PPP) and Jamaat e Islami (JI) strongly rejected the increase in petroleum products and demanded of the government for its withdrawal. Both parties called the government decision kf increasing oil prices as a cruel act that in their views will have devastating impact on the lives of the people.