Government has repeated same stratagem what masses observed days ago – nudge the masses into their comfort zone and then drop the petrol bomb at midnight. Here, the incumbent government made a ham-fisted attempt and slammed specifically the inflation-stricken salaried class with a fresh heft in petrol prices.
Simply put, fuel prices have been surged again, marking a new high, following which the commodity will now cost Rs233.89 per litre – a new record. Similarly, new prices of diesel, Kerosine oil and light diesel oil will be Rs263.31, Rs211.89 and Rs207.47 respectively. New petrol prices will be implemented from June 16, 2022.
Federal Minister Miftah Ismail contended that the government is not in condition to bear the burden of subsidies. We have left with no choice but to shift some burden on masses, he added.
Fuel Subsidies Abolished
Government is offering zero subsidy after the last hike in petrol prices. Meanwhile, General Sales Tax (GST) and Petroleum Levy (PL) are also zero on all petroleum products.
Masses have to face all this mess because economic charts are spiraling out of control and the government has to concede all the IMF conditions to reach lifesaving agreement. And, reports have revealed that fuel prices may rise up to Rs300 soon or later stoking the ongoing economic bust.
Do you think the government will be able to avert this economic calamity in coming months or keep on surprising us with the same fuel price shocks? Share your thoughts in the comment section and stay tuned to see what happens next.
Inflation-stricken salaried class! I beg to differ on that because if the said class were sagging under cost of living they would avoid wasting money, which they lovingly do on eating extravagant food at restaurants or merely riding around just for the fun of it.