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ISLAMABAD: For the first time in Pakistan’s history, the price of petrol is expected to cross Rs 150 a liter amid the financial crisis. Petrol and diesel prices have been increased by Rs 6 and Rs 5 per liter respectively in the international market from February 1. It also said that if the government decides to pass on the burden of rising oil prices in the international market to consumers, then petrol and diesel prices may increase by Rs 13 and Rs 18 per liter from February 16.
Currently, petrol is being sold in Pakistan at Rs 147.83 per litre, high-speed diesel (HSD) at Rs 144.62 and light diesel oil (LDO) at Rs 114.54 per litre. Earlier, Pakistani Finance Minister Shaukat Tarin indicated a jump in petroleum prices, saying that the Imran Khan-led government in Pakistan cannot keep fuel rates artificially low.
“If the international market sees a rise in prices, the government will have to put the burden on the people.”
Tarin hesitated to support the government’s decision to keep petroleum prices unchanged for the first 15 days of February, saying that although the decision is popular, it is not going to last.
Highlighting the budget for the next financial year, the minister said that it is a challenge for the government. He was of the view that the government would be under pressure at the time of presenting the next budget due to the upcoming general elections.
On January 15, the Imran government of Pakistan had announced an increase of Rs 3.01 in the price of petrol due to rising petroleum prices in the international market. According to a notification by the Finance Department, there was an increase in petroleum products other than petrol as well.
Meanwhile, the opposition coalition in Pakistan will organize an “anti-inflation” long march to Islamabad on March 23 on the occasion of Pakistan Day. The Pakistan Democratic Movement (PDM) had already called for a long march to Islamabad to protest rising inflation on 23 March, however, Interior Minister Sheikh Rashid Ahmed urged the opposition to either extend the long march to four days. Postpone for or do not withhold.
