AAMIR SAEED
ISLAMABAD: Finance Minister Ishaq Dar has announced on Sunday increase in petrol prices by Rs1.77 per litre and High Speed Diesel (HSD) by Rs2 per litre, for the next fortnight. Dar said at a news conference, here, that the prices of Light Diesel Oil (LDO) and kerosene would remain same from January 16-31.
“Oil and Gas Regulatory Authority (OGRA) had proposed Rs14.31 increase in kerosene oil, Rs10.11 increase in light diesel oil, Rs3.94 increase in high speed diesel oil and Rs1.77 increase in petrol,” he said, adding that that the prime minister has directed to provide maximum relief to the general public.
He said that the government would bear the burden of Rs2.75 billion as subsidy for this period on petroleum products. He said the prices of petrol and high speed diesel oil had to be increased due to 43 percent increase in the prices of crude oil and petroleum products in the international market.
He cited that the government kept the prices of the petroleum products stable since April last year and the increase at the international level was absorbed by the government.
The price change came two weeks after the government decided on December 31 to revise prices of petrol and HSD on fortnightly basis. It was also decided that the prices of LDO and kerosene oil would remain unchanged for entire January.
Reacting strongly against government’s decision to increase the petroleum prices, Pakistan People’s Party’s Senator Saeed Ghani said that the increase would give rise to price-hike and inflation.
“The PML-N government is thirsty of people’s blood and policies of Finance Minister Ishaq Dar are destroying the country’s economy,” he said, accusing the government of having usurped powers from OGRA. He said people were being crushed by increasing petroleum prices. He said the increase in petroleum products was due to failure of the PML-N government in increasing exports of Pakistani goods alongside its failure in reducing budget deficit.
Ghani announced that PPP would lodge stiff protest against the increase in petroleum prices in Parliament. He demanded of the government to withdraw the increase in the petroleum prices forthwith.
