Government reportedly to increase the petrol prices

The Federal Government of Pakistan is reportedly increasing the prices of petroleum by up to PKR 15 in the country, reports a local media outlet.

According to the media reports, International Monetary Fund (IMF) is applying pressure on the government to increase the prices of petroleum products. It is reported that the government will be surging the prices in the span of next three months. At the beginning of this month, the government bumped the prices of oil products by up to PKR 5 per litre which irked the public and the transporters as well.

Read Also: Petrol price goes up by 5 Rs to 97.83/litre

The current prices are as follow:

Let’s wait and see how people react to this news. Moreover, it is imperative to mention here that the government will lose PKR 60 billion in H1 of FY 2018-19 due to slashing sales tax on petroleum products. The government in August, September and October brought down the sales tax and bear the burden. The authority slashed sales tax on petrol by 30%, 22%and 63% in August, September and October 2018, respectively. It is highly expected that the government will face a sharp decline of 46% in oil revenue for the month of November as well.

Aside from government increasing the rates of petroleum products in the country, Pak Suzuki amid rupee devaluation has increased the rates of its CBU vehicles by Rs100,000-300,000.

Tell what you think in the comments section below.

My name is M. Ali Laghari and I love to read and write about Cars.

Notable Replies

  1. Is say bahtar to Nawaz Sharif ki hookomat thi. Char saal tak petrol ki qeemat kam thi.

    Int. Petrol prices kam ho rai hain, aur yahan petrol prices barh rahi hai.

    I think Naya Pakistan was all BS. Next time I will surely vote for PML. Kam say kam un ko awam ka tau khayal tha. 4 years tak petrol prices remained low.

    PTI nay pahlay hi saal record prices increase kardi.

    It is a pathetic akhroton ki hookamat, nothing more.

  2. capsat says:

    summary for fuel price change will be prepared by OGRA and put up for approval by ECC, like always 50% of recommended price hike will be accepted vis-a-vis approx Rs. 3.75 ~ 5.00 will be added in every category of liquid fuel., and become effective on 01.12.2018 or by 07.12.2018

  3. aa78 says:

    Fuel price increase was inevitable due to bad fiscal condition of country at the time of government transition, with ongoing increasing imports and decreasing exports. Mr Dar should be criminally prosecuted for his negligence and mismanagement of country's finances.

    This won't be curtailed till exports are encouraged through strong and realistic policy changes and measures. Here's to hoping that such measures come quickly and are actually aimed at increasing exports rather than just "khanapuri" as is typical by bureaucracy.

  4. soka6 says:

    And what has your pti govt achieved in 100 days ? The same policies the same sh** is still going on .all politicians are same .

  5. Nabs says:

    Fuel price should be at least 1000 Rs. per liter. Cheap oil is destroying this world.

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