Overview
Pakistan citizens expected going to face another price jump. Petrol price up and down are the biggest circulation news in Pakistan. because prices have not been stable for a long time in Pakistan. It is expected that the next fortnight’s petrol price decision in Pakistan will witness a jump of Rs. 7 to 9 per liter.
This is the prediction of experts that the diesel price will see a jump of Rs. 0.86. However, it is very minor but the petrol price jump would affect the regular travelers and transportation charges. Petrol rates had significant impacts on the overall economy and made economic challenges tougher.
What Will Be The Reason
The force behind this hike is recent International Monetary Fund (IMF) recommendation regarding the reintroduce of 18% GST on petrol. The recommendation is announced on the final tranche of IMF’s bailout package.
This could be tough for the newly established government because price jumps never impact well on citizens. However, the conditions of the IMF force them to manage the bailout package.
Moreover, other news is also circulating that the government intends to increase the petrol levy from Rs. 60 to Rs. 100. Petrol price jumps create serious concerns in our country.
the unfavorable rates create troubles and uncertainties. Petrol and diesel rates are not under control. We are facing significant jumps which cause higher inflation. Goods prices are affected by the higher rates which put low-income employees in trouble.
Conclusion
The situation of petrol rates becoming tougher for the government and citizens both. It is necessary to find a solution to control these rates. If it’s going likewise there would be no growth of the economy. The biggest fact is Pakistan is dependent on the import of petroleum products which is negative for our economy now.
