Islamabad : Feb 29,2024 : The caretaker regime has welcomed Shahbaz Sharif government with an increase of Rs 4.13 per litre in petrol price. The new petrol price has been fixed at Rs 279.75 per litre and it will remain effective for next 15 days. No increase has been made in the rates of high speed diesel .
A formal notification of the new petrol price was issued here on Thursday. The caretakers have been following a policy of passing on 100 % increase in the international market of petroleum products with huge taxes to the commuters . This is perhaps an outcome of Pakistan’s agreement with the International Monetary Funds (IMF) . Another impact of IMF deal is repeated upwards revisions in the power tariff .
IMF led economic policies have turned Pakistan for its people into a living hell. None of the governments of Pakistan could make a strategy to steer Pakistan out of the current crisis without IMF dictation and its result is unbearable burden of inflation and devastating interest rates on the national economy. Pakistan’s policy rate of 22% has blocked business and industrial activities in Pakistan . Despite devastating affect of IMF conditions Pakistan ‘s rulers are happy that they are getting dollars from this fund against anti people agreements.
