Islamabad : n a late night development, the Shahbaz government has increased the prices of High Speed diesel (HSD) and petrol by Rs 7.32 and Rs 5 per litre respectively.
The Petroleum Division in its official handout said the increase in the rates of petroleum products has been made due to changes in their prices in the international market.
With the new increase, the petrol price has increased from Rs 253.17 to Rs 258.17 per litre and HSD rates increased to Rs 275.70 per litre.
The new petroleum product prices will remain effective till February 28.
The government is relying heavily on the Petroleum products for revenue collection. This approach is making the people’s life harder as any surge in the rates of petroleum products adds financial burden on them. The government ‘s policy of increasing profit / margin of the down stream industry is also adding to financial burden on the public at large in Pakistan.
Taxation and increasing profit margin of the petroleum companies and dealers are costing to the end users almost one third of the prices of the petroleum products.
