Pakistan: Inflation hit in Imran government

 

For the first time in Pakistan's history, the price of petrol is expected to cross Rs 150 a liter amid the financial crisis. Quoting sources, Pakistani media News International said that from February 1, the prices of petrol and diesel in the international market have been increased by Rs 6 and Rs 5 per liter respectively. It also said that if the government decides to pass on the burden of rising oil prices in the international market to consumers, then petrol and diesel prices may increase by Rs 13 and Rs 18 per liter from February 16.

According to 'The News International', petrol is currently being sold in Pakistan at Rs 147.83 per liter, high-speed diesel (HSD) at Rs 144.62 and light diesel oil (LDO) at Rs 114.54 per litre. Earlier, Pakistani Finance Minister Shaukat Tarin indicated a jump in petroleum prices, saying that the Imran Khan-led government in Pakistan cannot keep fuel rates artificially low.

According to 'The News International', "If there is an increase in prices in the international market, then the government will have to put the burden on the people."

Tarin hesitated to support the government's decision to keep petroleum prices unchanged for the first 15 days of February, saying that although the decision is popular, it is not going to last.

Highlighting the budget for the next financial year, the minister said that it is a challenge for the government. He was of the view that the government would be under pressure at the time of presenting the next budget due to the upcoming general elections.

On January 15, the Imran government of Pakistan had announced an increase of Rs 3.01 in the price of petrol due to rising petroleum prices in the international market. According to a notification by the Finance Department, there was an increase in petroleum products other than petrol as well.