Islamabad : As was expected , the government on Friday revised upward prices of petroleum products .
As per the official announcement , petrol price has been increased by Rs 5 per litre and high speed diesel (HSD) rates increased by Rs 30 a litre . A jump of Rs 30 in HSD rates is enough to add to the people ‘s difficulties. Its immediate affect will be massive increase in fare and each and everything of their use.
The new prices of petroleum products will become effective from Mid night on Saturday.
Rising tensions in the Middle East !ME) is given a basic reason for the increase in the oil prices.
Petroleum minister, Ali Malik , and Information minister , Atta Tarar, had tried to make the people ready to accept the new upward revision in oil prices in their joint press conference in the day time . They also gave many unrealistic arguments supporting the idea of daily oil prices revision.
Since the start of ME war , Ali Pervez is continously misguiding the nation on oil prices in the global market . He made a claim on Friday that the oil prices have gone up to $ 140 a barrel whereas its actual price was around $ 88 a barrel.
Since the government has intentionally created another controversy over the period of revision of petroleum product prices on daily basis, its yet unclear if the revision will take place on daily or weekly basis.
The government had announced early on Friday that the prices of petroleum products will be reviewed and adjusted on the daily basis .
One cannot understand as to what is compelling the government to bring in to force the formula of adjusting oil prices on the daily basis. One wonders as to why Shahbaz government is creating crisis after crisis in the country to add to the problems for the people of Pakistan.
None of the oil sector stakeholders including marketing companies , pump dealers and most importantly the people are in favour of revising oil prices on the daily basis. The arguments of the officials that the oil prices are revised on the daily basis in the US , UK and Europe is shameful and a dirty joke with the people of this country . The officials who are behind the move to adjust the oil
prices on the daily basis perhaps do not feel any difference between the US, UK , Europe and Pakistan.
Pump owners and OMCs’ point of view on new oil prices formula carry logic . They are 100% right by saying that the daily oil revision will not serve any purpose and the government should not implement it.
