Overview
Petrol prices ups and down become a major topic in Pakistan. It is very rare time that petrol prices decrease at fortnight decision. Previously the government has increased the price by Rs 10/Liter.
Recourse has confirmed that the coming fortnight’s decision for petrol price from 1st May 2023 will bring a new of decrease petrol price. Petrol price to be down by Rs 4.5/Liter and diesel price will reduce by Rs. 6/Liter.
Petrol and diesel prices affect transportation charges and commercial traveling. The rising inflation in the country is major affected by the price of petroleum products.
Meanwhile, the government’s plan to charge an extra Rs. 75/Liter from the privileged class makes no relief for them. The decrease in petrol price is not a relief for them.
What is a Petrol Subsidy Plan
The government has announced a petrol subsidy for motorbikes, rickshaws, and cars up to 800cc. but against this, they have the plan to charge an extra Rs. 75/Liter from above 800cc car owners. This makes the privileged class unhappy with the decision.
Petrol subsidy is under review and a few days ago it has been sent to the Economic Coordination Committee (ECC) after PM Shehbaz Sharif okayed.
Conclusion
The citizens are already paying Rs. 282/Liter for petrol and charging an additional amount is not easy. Unstable petrol rates make the overall economic situation worse. The agriculture sector disturbs badly. Many businesses shut down due to the unstable economic condition. Meanwhile, the cheap fuel from Russia has not arrived yet. We have many hopes from the Russian crude oil that it become a petrol price down in Pakistan.
