Petrol Diesel Price Hike in Pakistan: The government there has increased the burden on the people of Pakistan who are already struggling with inflation. Amid rising inflation in the country, Finance Minister Ishaq Dar has announced an increase in the prices of petrol and diesel on Tuesday. In the neighboring country, the government has increased the price of petrol by Rs 19.95, after which it is available at Rs 272.95 per litre. At the same time, the price of diesel has been increased by Rs 19.90 per liter, after which its price has increased to Rs 273.40 per liter. The new rates have come into effect from 1 August 2023.
Decision taken in ‘national interest’- Finance Minister
Announcing the prices of petrol and diesel on Tuesday, the Finance Minister said that the Sharif government has taken this decision in view of the ‘national interest’. After the review meeting on Monday, the government announced this on Tuesday. Significantly, the government was going to announce this on Monday itself, but in view of the increased price, it has been announced on August 1, 2023, to avoid crowding at petrol pumps. Along with this, he said that the government tried to reduce the price, but due to the rising price in the international market, this decision had to be taken.
Bound by IMF conditions
The Finance Minister defended his government’s decision and said that we had tried to reduce the price of petrol and diesel, but it is known to all that we are bound by the rules of the International Monetary Fund. Along with this, he also said that all these agreements were done during Imran Khan’s government only. In such a situation, it is necessary for us to follow the conditions of IFF.
LPG prices also increased
Apart from petrol-diesel, there has also been a tremendous increase in the price of LPG in Pakistan. Since the beginning of August, the price of LPG has increased by 17.5 percent and the LPG consumer sale price by 13.5 percent. After this, 11.8 kg cylinder is available here for 886.30 Pakistani rupees and the consumer price is Rs 2,373.64. Due to the increased price of LPG, its direct impact is being seen on the kitchen budget of the general public. It is worth noting that inflation has broken the back of common people in Pakistan, although in June 2023 the inflation rate has reached the lowest level of seven months at 29.4 percent. Whereas in May the inflation rate was 38 percent.