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The federal government is ready to drop another petrol bomb on the inflation-hit public as prices of petroleum products are expected to increase by Rs7 per litre from November 1.
While there has been a spike in inflation in recent years, the recent shock in the shape of petrol price hike has crushed the masses that are already overburdened by financial constraints.
Lack of relief in petrol prices has created more issues for people; the people of Pakistan are struggling to meet their ends due to inflation and unemployment.
Petrol prices to further increase?
In view of the continuous depreciation of the Pakistani rupee and soaring oil prices in international market, petrol is likely to become more expensive from November 1. According to sources in the oil marketing companies (OMCs), petrol price is expected to increase by Rs7 from November 1.
Meanwhile, diesel price is likely to increase up to Rs9 per litre, industry sources added. However, they added that fluctuations in imported oil prices during the next five days will determine the final price.
The PTI-led government had announced a massive price hike in petroleum products, increasing the per litre cost of petrol by Rs10.49 and high-speed diesel by Rs12.44 for the next fortnight on October 16.
The increase in POL products was notified a day after the government hiked power tariff by Rs1.39 per unit which would come into effect from next month.
Govt’s claims
The government officials claim they are providing petrol at much cheaper rate in the region. The government has set a target of Rs610 billion for petroleum levy for the fiscal year 2021-22.
In the current scenario, the Finance ministry had said, the government has absorbed the pressure and provided maximum relief to consumers by keeping Petroleum Levy and Sales Tax to a minimum.
The government’s media campaigners repeatedly propagated prices of petrol and diesel in India in Pak-Rupee saying the prices of two products ranged Rs248 and Rs220 per litre (INR97-109 per litre), respectively against Pakistan’s Rs123 to Rs128 per litre. What they never talked about was the per capita purchasing power parity (PPP) that stood at about $4,900 in Pakistan when compared to $6,500 in India.
Relief steps curial in current situations
If the government really desires to bring about change, it has to do something in practice to decrease issues being faced by citizens. No change has taken place in the ongoing tenure of the ruling party in this situation, the poor decisions that the government is making cannot be admired.
The PTI government must point out the mistakes of the past, but just pointing out the mistakes of the past will not solve the issues of the people, it is essential to set a proud example, otherwise, like others, their successors will repeat the same mistakes in power.
Citizens are now pinning hopes on Prime Minister Imran Khan to provide them a breather from whopping inflation and widespread unemployment by taking concrete steps rather than trust on tall claims.
