So, there may be a light at the end of the tunnel-the tunnel of petrol prices-for the masses as Public Accounts Committee (PAC) has recommended a reduction in prices. The suggestions was given to give relief to people and amid downward trend in international market.
During a PAC meeting, Chairman Noor Alam Khan stated that the price of petrol is decreasing in globally. “When the price is low in global market, why is it not lower in our country?” he asked. Khan further said that when the prices go up internationally, it goes up here but doesn’t come down accordingly.
He also noticed that international prices have come down twice, however, the government has increased instead of reducing them. “I request Ministry of Finance and the government to provide relief to people,” Khan said.
The committee member Sheikh Rohail told PAC that the international prices have come down by Rs. 50 per liter. “But IMF is asking the government to increase the sales tax,” he mentioned.
Current Petrol Prices
After the latest hike in prices, petrol now costs Rs. 248.74 as compared to the old price of Rs. 233.89.
Meanwhile, the new Diesel rate is Rs. 276.54 instead of Rs. 263.31.
And the new rate of Kerosene Oil is Rs. 230.26 against Rs. 211.43.
Light Diesel Oil now costs Rs. 226.15 compared to the previous rate of Rs. 207.47.
That was the 4th time the government has increased the price of petroleum products since April. The prices are expected to further increase during the year due to IMF loan conditions.
The government cannot reduce the petrol prices it begged I.M.F. and now has to follow those instructions, anyway, the move of pricing the petrol high has been really great, for too long Pakistanis have been living beyond means with high prices they are bound to learn to within them.