In a latest development from the neighbour across the borders, the commoners yet again faced massive blow of inflation. The new government of Pakistan yet again introduced a hike in petrol-diesel prices. Stating that Government of Pakistan is not in a position to bear the subsidies it had been serving on petroleum products, Federal Finance Minister of Pakistan Miftah Ismail on Wednesday, announced for a hike in their prices.
As per the latest revised prices, One liter petrol now costs Rs 233.89(with an hike of Rs 24.03) whereas one litre diesel now costs Rs Rs 263.31 (with an hike of 16.31) Miftah Ismail while announcing this hike said,”From June 16, petrol will be available at Rs 233.89 per litre and diesel at Rs 263.31, kerosene oil at Rs 211.43, and light diesel oil at Rs 207.47.
The FM while explaining the reason behind this hike said Miftah said that the former PM introduced such relaxations deliberately and reduced the prices of petroleum products by offering subsidies to commoners. As per the Minister, the government has been bearing a loss of Rs 24.03 on petrol, Rs 59.16 on diesel, Rs 39.49 on kerosene oil and Rs 39.16 on light diesel oil. The Minister further added,” this loss went Rs 120 billion — three times greater than the of civil government, which amounts to Rs 40 million.
People while reacting to this hike, showed their obvious resentment and took to social media to share their state of helplessness. It must be noteworthy that Pakistan had been going through stiff economic crisis and inflation there has even crossed the Seventh Sky. Government of Imraan Khaan too faced hard criticism for being unable to curb inflation during his times.
