Govt increases petrol,diesel prices again by Rs30 per litre

Finance Minister Miftah Ismail announced on Thursday, that the federal government has decided to hike the cost of all petroleum products again by further Rs30. The price of petrol is now increased to Rs209.86 per litre and diesel now costs Rs204.15 per litre.

Petroleum prices were already increased last week by Rs30, an increase which repeated again.

The finance minister told a press conference in Islamabad that PM Shehbaz Sharif has approved an increase in petrol and diesel prices of Rs30 per litre. On the other hand, the price of kerosene oil  has risen by Rs26.38 per litre.

The new prices are the following:

• Petrol — Rs209.86
• Kerosene oil — Rs181.94
• Diesel — Rs204.15
• Light diesel — 178.31

The finance minister claims that despite a Rs30 increase in petrol, the government is still losing roughly Rs9 since they are not receiving any tax on the gasoline.

Miftah Ismail expressed confidence about reaching a deal with the IMF in June, but also believes that the government still needed to implement some changes.

“Of course we can’t accept all of the demands by IMF, but there are some things on which we must agree”, he said.

“The IMF wants to see our budget, therefore the reforms we want to implement will come before the budget. However, we communicate with the IMF on a daily basis “, he added.

He once again blamed the ex-finance minister Shaukat Tareen for the price hike. He believes that this increase in prices is a result of agreements Shaukat Tareen made with IMF during his tenure.

Former Prime Minister Imran Khan reacted to this price hike on twitter and said the latest increase in fuel prices will “raise the burden on the masses by Rs900 billion and price hike in basic necessities”.

Imported govt has increased petroleum prices by 40% or Rs 60 per litre.This will increase burden on the public by Rs 900 bn & price hike in basic necessities. Plus, the Rs 8 increase in electricity price will put entire country into shock.Expect inflation by 30% highest in 75 yrs

— Imran Khan (@ImranKhanPTI) June 2, 2022

He also asked people to protest the government’s “anti-people policies of major price rises to crush the population and create economic chaos in the country” after Friday prayers.

I want everyone to come out & protest peacefully after Juma prayers tomorrow against this Imported govt's anti-people policies of massive price hikes to crush the public & wreak economic havoc in the country since they have no stakes here as their assets are all abroad.

— Imran Khan (@ImranKhanPTI) June 2, 2022

Former Information Minister Fawad Chaudary said that this latest hike in the prices of petroleum products and electricity is the ‘end of middle class in our country’.

پٹرولیم مصنوعات میں ساٹھ روپے اضافہ اور بجلی میں سات روپے فی یونٹ اضافہ کا مطلب پاکستان کی مڈل کلاس کا خاتمہ ہے، اس حکومت کی معاشی پالیسیاں ہمارے لئے تباہ کن ہیں اور پوری حکومت اس بحران سے نبٹنے کی بجائے مخالفین کیخلاف بغاوت کے مقدمے درج کرانے میں مصروف ہے

— Ch Fawad Hussain (@fawadchaudhry) June 2, 2022

The leader of Jamaat-e-Islami Siraj ul Haq announced that they will start a public protest against the price hikes from June 11.

پٹرول و ڈیزل کی قیمتوں میں مزید 30 روپے کا اضافہ شرمناک ہے
حکومت نے آئی ایم ایف کی غلامی میں تمام حدیں عبور کر لیں
بجلی گھی آٹا چینی سب کچھ مہنگا کرکے عام آدمی سے زندہ رہنے کا حق چھینا جا رہا ہے
خاموش نہیں رہیں گے۔ جماعت اسلامی 11 جون سے عوامی تحریک کا آغاز کرے گی

— Siraj ul Haq (@SirajOfficial) June 2, 2022

Quantum Media – 2022