In fresh set of conditions, International Monetary Fund (IMF) has asked Pakistan government to end its control over the petrol prices. As per media details, the body has set four tough conditions including Rs. 50 Petrol Levy and ending government’s role in deciding the fuel rates in the market.
The demand came as the government has decided to seek National Assembly’s approval to amend Petroleum Products (Petroleum Levy) 1961. If the current government accept this condition, it means the petrol companies will be free to decide the prices as per market trend and there would be no interference from the government.
Possible Impacts on Petrol Prices
Currently, all companies set own prices of Hi-Octane and that is why the Hi-Octane rates by different companies are different. Furthermore, these companies would decide the prices to keep an edge over the rest of the market, increasing the competition.
On the other hand, there are chances of monopoly by these companies, as they could join hands and sell the petroleum goods at a set price. But these speculations are immature because the coming days will reveal the details.
The current government has faced severe criticism from the masses over increasing petrol prices thrice, in last couple of months. The prices have been increased by Rs. 30 for the first time, followed by Rs. 30 and then Rs. 24 for the third time, respectively, taking the price to Rs. 234 from Rs. 150.
Meanwhile, the current prices of diesel, kerosene oil and light-speed diesel are Rs263.31, Rs211.89 and Rs207.47 respectively. Let’s see what government will decide on this demand by IMF and we hope that it will take a decision which is better for the masses. But it seems that coming days would be more difficult.
What do you think, should the government accept the condition by IMF? What could be the impacts? Please share your thoughts in the comments section.
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It understand even more why Imran Khan dosn’t want to take another loan from IMF.
When corruption is already high, and gain more place with the win of Shareef, who are them to impose such condition ?
One thing is sure IMF is not for the Pakistani interest side.