ISLAMABAD: August 1, 2023: At its last leg, Shahbaz government on Tuesday gave a big shock to the masses by increasing the prices of petroleum products massively.
With the latest increase, the rates of petrol jumped-up to Rs 272.95 from Rs 253 per liter. The rates of diesel increased from Rs 253.50 to Rs 273.40 per liter. The new prices were notified for the next fortnight with immediate effect.
Usually, the revision in petroleum products prices is announced on the last day of the fortnight and under this arrangement the government was supposed to announce the new prices of the petroleum products on Monday. However, the announcement to this effect came with a delay of 12 hours.
Finance minister, Ishaq Dar, who announced the last time increase in the rates of the petroleum products, passed on the buck to the International Monetary Fund (IMF) for the increase. He told a select press briefing that since the rates of the petroleum products have gone up in the international market, the increase in the rates of diesel and petroleum was inevitable.
Ishaq Dar always takes credit when the prices of the petroleum products go down due to downward trend in the international market but since now Shahbaz Sharif government is going to seize the office in next 10 days he held IMF responsible for the new increase in the rates of petroleum products. A couple of days ago the prime minister himself accused IMF of tiding the hands of the government which, he blamed, bars him from taking relief measures.