Inflation has placed a heavy strain on an average Pakistani’s monthly budget. However, Imran Khan recently assured everyone that these tough times will last not more than 2-3 months, during his speech at Shaukat Khanam Hospital’s fundraiser in Karachi. Although the current government is tackling several issues left at their disposal, courtesy of previous governments and struggling to maintain economic balance, not all is lost.
Previously, Asad Umar when acting as the Finance Minister, introduced a mini-budget as a relief package for the people. While presenting it in National Assembly, he said, “This is the corrective package aimed at addressing various sectors of the economy”.
However, the Oil and Gas Regulatory Authority (OGRA) will be forwarding a summary that has new proposed rates on May 30th of petroleum products, which is likely to be approved by the government. Once approved by the Prime Minister, the new prices will become effective from June 1st, according to the sources.
Look forward to an increase of 9.5 rupees in petrol prices while it is suggested that at least 12 rupee increase will be observed in petroleum products
High-speed diesel may go up by Rs 11.5 while light diesel is expected to increase by Rs 7.85. Furthermore, Kerosene oil’s rates will hike by 12 rupees.
The petrol prices are expected to rise by 9.5 rupees/liter from 1st June according to the OGRA recommendation. If government accept the summary, it would be the highest ever petrol price in Pakistan.
— Wajahat Kazmi (@KazmiWajahat) May 28, 2019
This isn’t the first time Imran Khan’s government has increased the prices of petroleum products which not too long ago hiked by almost a whopping 10 %. Petrol went from 98.88 rupees to 108.42 rupees while high-speed diesel from 122.32 rupees to 117.43 rupees.
This is definitely alarming. Have anything to share? Let us know in the comment section below.