After a few weeks of adjustment, the new government is now in full action. Right now, petrol price is the government’s biggest challenge and the hottest topic in the country. As per the latest news, petrol prices are all set to increase as the new Finance Minister Miftah Ismail has agreed with IMF recommendations to end fuel subsidies.
Miftah says the government will devise a policy to give relief to motorcyclists. He added that the government will only subsidize petrol for the middle-class motorcycle users, not the elite class with big cars.
New govt will do the “Right Thing”.
We all know Pakistan is suffering from a chronically ill tax base. The new government has inherited an economic crisis that will take time to overcome, but Finance Minister Miftah says there is “never a wrong time to do the right thing.”
The previous government transferred the economic pressure onto people and placed them under stress. The current government says it will try its best to lift the pressure off the public shoulders and make their lives easier.
The current government is determined to collect more taxes than the previous administration without charging any new tax.
Expected Petrol Price Hike
During the last fuel price revision, the new government kept the petrol prices unchanged. It was a political decision as the government decided to go with the public sentiments despite the country’s deteriorating economic health. But, this time, the petrol prices won’t stay the same, and the public should be ready for a massive petrol price hike on the 1st of May.
Current Petrol Prices
The current petrol price is Rs. 149.86, High-Speed Diesel (HSD) stands at Rs. 144.15, while Kerosene Oil (SKO) costs Rs. 125.56, and Light Diesel Oil (LDO) price is Rs. 118.31.
What is your take on the government’s plans to hike the petrol prices but offer subsidized fuel to the motorcyclists? Do you think it’s the right thing to do? Share your thoughts in the comments section.
