Islamabad: Pakistan government’s decision to hike petrol price by at least Rs 3.5 per litre from Thursday has invited widespread censure from citizens across the country who are already battling inflation and financial stress.
As per sources in the government, a summary for increase in fuel and petroleum prices has been proposed due to the variation in the global market. Details suggest that the price of light speed diesel may be increased by at least Rs 5 while kerosine oil price may also see a hike of at least Rs 6 per litre.
The proposal to increase prices, submitted by the Federal Petroleum Ministry through a working paper to the Oil and Gas Regulatory Authority (OGRA), recommends major adjustments.
The proposed prices will be reviewed by OGRA before being sent to Pakistan Prime Minister Shehbaz Sharif for the final approval. The revised rates will stay from January 16 to January 31.
This is the second such hike in January 2025. The fuel and diesel prices were increased by Rs 0.56 and Rs 2.96, respectively on January 1 till the midnight of January 15.
The latest move is expected to put more pressure on the masses and the transport sector. Locals argue that the increase in prices dents their monthly budget with a direct impact on the cost of basic utilities.
“Increase in fuel price makes it almost impossible for poor people like me to save enough money at the end of the day and provide my family with food. We suffer every time but the government continues to ignore our suffering,” said a rickshaw driver in Rawalpindi.
While the fortnight revision of fuel prices has invited ire of the citizens, the government maintains that the country’s overall economic position has improved and some good measures could finally be in store for the public in near future.
“We have already brought down inflation levels to a single digit and will continue to work to ensure that it keeps decreasing. Our progress is consistent and the country is surely coming out of its economic turmoil,” said Muhammad Aurangzeb, Federal Minister of Finance.
(IANS)
