like petrol Prices have fallen in the world market and it is expected that the present government is planning to get rid of its influence on the middle class men who suffer from inflation – to bring about some relief in petrol prices in Pakistan.
Sources revealed that the easing in petrol prices could be more than Rs. 5 per liter or up to Rs. 10. While diesel prices can see a drop of up to Rs. 20.
New fuel prices in Pakistan
- After increasing Rs. 5/litre, petrol is now priced at Rs. 272 instead of Rs. 267.
- New price for High Speed Diesel (HSD) is Rs. 292 compared to the old price of Rs. 280, which saw a jump of Rs. 13 / l.
- Kerosene Oil noted an increase of Rs. 2.56/litre, bringing the price to Rs. 190.29 for Rs. 187.73.
- The price of Light Diesel Oil (LDO) remained unchanged and remains at Rs. 184.68 / liter.
No cheap fuel for motorcyclists
The IMF strongly objected to the cheap gasoline plan and rejected the government’s initial proposal. Government declared Rs. 50 / liter subsidy for motorcycles, rickshaws and cars up to 800cc. As per the initial proposal, the government planned to increase petrol prices for car owners by Rs. 50 / liter, and limited-income people are excluded from it.
However, according to media reports, the lending body has raised questions, including the amount of support for this scheme and where it will come from. How many consumers will be subject to this plan? How much loss will the government face? The International Monetary Fund has asked Islamabad to submit a detailed proposal for the plan.
According to the sources, a virtual meeting was held between the two sides, during which the International Monetary Fund confirmed the preparation of the amended plan. The global body also stressed providing more targeted and effective subsidies to people suffering from poverty.
What do you think of the expected decline in petrol prices in Pakistan? Leave your thoughts in the comments section.