The government dropped the petrol bomb. The Price of Petrol has been increased by Rs 10.49 per litre, Light Speed Diesel by Rs 8.84 per litre, Kerosene by Rs 10.95 per litre and High-Speed Diesel by Rs 12.44 per litre. The new prices will apply from October 16, 2021.
Islamabad: Prices of petroleum products have been increased from Rs 12.44 to Rs 8.82. According to details, the Finance Ministry has announced an increase in the prices of all petroleum products from October 16.2021.
The new price of High-Speed Diesel has been fixed at Rs 134.48 while the price of Kerosene has been increased by Rs 10.95 and the new price will be Rs 110.26.
The Ministry of Finance has increased the price of light diesel by Rs. 8.84, bringing the new price of Light Diesel to Rs. 108.35.
The new prices of petroleum products have come into effect from October 16, ie today.
Brent crude rose to 85 a barrel on a three-year high.
According to the British News Agency, the price of Brent crude oil is the highest price since October 2018.
In addition, the price of US crude oil WTI has risen by one per cent to $.82 per barrel.
According to experts, the global economy, which was devastated by the Coronavirus, is now recovering.
It may be recalled that OGRA had proposed to increase the price of petrol by Rs 5.90 per litre. OGRA had prepared a summary to further increase the prices of petroleum products after a gap of 15 days.
Federal Minister for Energy Hamad Azhar has said that the increase in the prices of petroleum products was not done at the request of the IMF.
The petroleum levy has been reduced from Rs 30 to Rs 5.50. Talking to a private TV channel, he said that the demand and supply in the global market have increased and increasing the prices of petroleum products is the most difficult task.
He said the government’s capacity to provide relief in the prices of petroleum products is decreasing. The government is bearing the burden of the increase in the prices of petroleum products.
Hamad Azhar said that India and Bangladesh have the highest poverty rates, The price of LNG in the world market is skyrocketing but gas is cheaper in Pakistan than in India.
On the other hand, Federal Finance Minister Shaukat Tareen said that inflation will not go down due to global inflation. He told a press conference in Washington that global commodity prices are rising, so inflation is not down. This rising inflation trend will come down when the effects of Corona in the world will come down.
Shaukat Tareen said, “We have a database of low-income earners. We will provide targeted subsidies on flour, sugar and pulses to 40 per cent of the country’s population”.
On the rise in prices of petroleum products, Maryam Nawaz leader of PMLN took Prime Minister Imran Khan by surprise and said that there is no future for the PTI government.
Mocking the Prime Minister, Maryam said that not everyone has ATMs to run their household expenses, not everyone lives in Bani Gala like the Prime Minister.
Shee said that 220 million people of Pakistan know what game was played with the country. The government has prepared a long march against itself.
The government’s ally Muttahida Qaumi Movement (MQM) Pakistan has also expressed regret over the sharp rise in prices of petroleum products in the country.
The Coordinating Committee of MQM Pakistan observed that the federal government has raised petrol prices to the highest level in the history of the country.
Coordinating Committee said that the burden of rising prices of petroleum products in the global market is not always placed on the people.
The current government measures will cause a tsunami of further inflation in Pakistan.
According to the coordination committee, the current inflation has become unbearable for the people of Pakistan.