ISLAMABAD : The government of Speedo prime minister, Shahbaz Sharif , has revised upward the prices of petroleum prices once again to fulfil condition of the International Monetary Fund (IMF) . The current upward revision has come as levy on the petroleum products . Imposition of levy on petroleum products is one of the key conditions for Pakistan to qualify for its two combine installments of $ 1.9 billion .
The Speedo’s government is blindly accepting the condition of IMF . It did not have any other strategy to mitigate looming risk of Pakistan ‘s default on international obligations .
Thursday’s increase is fourth consecutive upward revision in the prices of petroleum products . Total increase in petroleum products prices in Shahbaz government is over Rs 100 per liter. Repeated upward revisions in the petroleum products have already opened up an unparalel floodgate of inflation and subsequent price hike in the country. The way Shahbaz Sharif government is jacking up the rates of petroleum products it appears Shahbaz Sharif and his Finance minister, Miftah Ismail are a big failure and the people are have no choice but to pay its heavy price .
The new prices will remain effective for a fortnight .
With a jump of Rs 14.85 the petrol prices went up to Rs 248.74 per liter . The prices of
kerosin oil has been increased by Rs 18.83 to jack up its per liter price to Rs 230.26. High speed diesel rates were increased by Rs
13.23 and its new rates have been fixed at Rs 276.54. The price of light speed diesel
(LSD ) went up to Rs 18. 68 and its new rates have been fixed at Rs 226.15.
