There was a recommendation for an increase in prices of petroleum products, by the Oil and Gas Regulatory Authority. But the Prime Minister of Pakistan, Mr. Imran Khan Rejected this summary and after that petrol prices in Pakistan will remain unchanged until November 15, 2021.
Summary which was sent to Prime Mister was to increase Rs.8.49 per liter in price if High-Speed Diesel. A 6.29PKR per liter increase in the price of petrol and a 5.72 PKR per liter increase in the Kerosine and light-speed diesel. At this time, the price of petrol in Pakistan is approximately 138 PKR per liter.
Office of the Prime Minister of Pakistan issued a statement saying that the PM has instructed not to put the burden of rising fuel prices on people. According to the statement, it is the priority to provide relief to the people instead of putting inflation pressure on them.
Experts say that the increase in petrol prices will not be justified as there is a decrease in the Dollar rate and also a decrease in the prices of crude oil internationally. It is pertinent to mention here that on October 16, 2021, the govt has increased the petrol prices by 10.49 PKR per liter. And the high-speed diesel was increased by 12.49 per liter. Due to this increase in price the fares of public transport were also increased.
After that increment in prices, this decision was badly criticized by people and opposition equally. There were a number of protests across the country even the opposition alliance Pakistan democratic Movement also announced protests against increasing costliness.
At the same time, the prime minister has instructed his energy and power ministers to provide a subsidy plan for lower-income people.
Last week Mr. Hammad Azhar – The energy minister, said that the govt. was under pressure to give up the taxes on petroleum products. He added that the govt. initially set up a target to collect revenue of 610 billion via petroleum levy but they only succeeded to collect only 50 billion in the first four months.
Now we have to wait for that for how long the govt. will stay on the statement of not increasing the prices of petroleum products because this govt is already famous for its U-TURNS.
