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Reeling under severe inflation, Pakistanis slam govt for increasing fuel price

Reeling under severe inflation, Pakistanis slam govt for increasing fuel price

Islamabad, July 1 (SocialNews.XYZ) The Pakistan government's decision to increase the petrol price by at least Rs 9.56 per litre is being massively criticised by people of the country who are already reeling under severe inflation and questioning the imposed taxes in the fiscal budget.

While the government led by Shehbaz Sharif maintains that the revision has been done in view of increase in the global fuel prices, the move has angered the masses.


As per the notification issued by the Finance Ministry, the price of High Speed Diesel (HSD) has also gone up by Rs 9.56 per litre.

The new prices after the fresh increase now stand at Rs 265.61 (per litre petrol) and Rs 277.49 (per litre HSD).

"This government is working only to please and satisfy the International Monetary Fund (IMF) and does not bother about the sufferings of the citizens," said a resident of Islamabad.

"I am a rider with BIKEA (a local company providing transport services in Pakistan). The increase in fuel prices has hit me severely because we cannot increase the rates of our rides and have to bear the cost of fuel price increase from our own pocket," said another person standing at a fuel station.

"This government cannot feel our pain, it cannot relate to our sufferings, it does not care if we live or die of starvation and hunger. It just wants to make the IMF happy and make life impossible for its citizens," he added.

The government is already facing serious backlash from the locals who are protesting against high electricity bills and the ongoing load shedding being witnessed across the country.

Strong and angry protests have been witnessed in parts of the country with people slamming the government against increased taxes, high per unit rates on electricity and its direct impact on prices of items of basic needs, triggering high inflation levels, making it difficult for them to run their households.

Experts fear that the coming days may see more increase in prices of petroleum products if the government decides to increase the levy on petrol and HSD.

"The government is charging Rs 60 per litre petroleum levy on petrol and HSD, whereas they are exempt from general sales tax," says economist Irshad Ansari.

"In case the government decides to raise the levy on both petrol and HSD by Rs 5 per litre, the prices of petrol and HSD would go up further by Rs 12.54 and Rs 14.84 per litre, respectively," he added.

The Finance Bill 2024 has proposed a maximum petroleum levy limit of Rs 80 per litre, which means that the government will be increasing the levy in the coming days, the direct impact of which would be reflected in the prices of petrol and HSD.

Source: IANS

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Reeling under severe inflation, Pakistanis slam govt for increasing fuel price

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