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- Pakistan Petrol Price Hits Rs 458.41, Diesel Rs 520.35 Per Litre – Massive Hike Due To US Iran War
New Delhi2 minutes ago
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Kerosene prices in Pakistan have also been increased by ₹34.08 to ₹457.80 per litre.
In Pakistan petrol has crossed Rs 458 and diesel has crossed Rs 520 (Pakistani Rupee). The government has increased the price of petrol by 43% and the price of high-speed diesel (HSD) by 55%.
This decision has been taken after the rise in crude oil prices in the global market due to the ongoing war between America and Iran. The new rates have come into effect from Thursday midnight.
After the increase, petrol in Pakistan now reached ₹ 458.41 per liter and diesel ₹ 520.35 per liter. The price of kerosene has also been increased by ₹34.08 to ₹457.80 per liter.
Last month petrol and diesel had become costlier by Rs 55. The value of 1 rupee of Pakistan is equal to 33 paise of India. That means the value of Rs 100 in India is equal to Rs 300 in Pakistan.
Tax increased on petrol, reduced to zero on diesel
To maintain balance in prices, the government has also changed the petroleum levy i.e. tax rates. The levy on petrol has been increased from ₹105 to ₹160 per litre. To ensure that diesel prices do not rise too much, the levy on it has been reduced from ₹55 to zero.
Petroleum Minister said – it is necessary to limit subsidy
Pakistan’s Petroleum Minister Ali Pervez Malik has called this decision a difficult decision. He said that considering the global market situation, it was necessary to take this step.
The main objective of the government is to maintain financial discipline and protect economic stability. According to Malik, the government will now give subsidy only to those sections who need it the most.
Prices increased to reduce consumption
Prime Minister’s Economic Affairs Advisor Khurram Shahzad said in an interview that last month there was an increase of 8% in petrol consumption and 13% increase in diesel consumption.
To control this consumption, prices were increased. He told that the government was trying to stop these prices for the last three weeks, but in view of the global situation, it is no longer possible.
Relief measures for general public and farmers
Amidst the heavy burden, the government has also announced subsidy for some sections…
- bike rider: Motorcycle owners will get a subsidy of ₹100 per liter on 20 liters of petrol every month.
- Farmer: Small farmers will be given a lump sum amount of ₹1,500 per acre to help them through the harvesting season.
- Transporters: Inter-city and freight vehicles will get a subsidy of ₹100 per litre, which will be reviewed every month. Truck drivers will be given direct assistance of ₹70,000 per month.
Hands up after ₹129 billion subsidy
According to government officials, despite a ₹100 billion cut in the country’s development budget and several strict measures, it was becoming difficult to provide cheap fuel to the public. The government had already given a subsidy of ₹129 billion, after which it was no longer possible to put further burden on the exchequer.
What will be the impact on the general public of Pakistan?
- Dearness: With diesel prices crossing ₹520, freight transportation will become expensive, making fruits, vegetables and everyday items expensive.
- Farming: The cost of crops will increase as diesel for running tractors and tube wells becomes expensive.
Experts believe that if the war prolongs, fuel prices in Pakistan may even touch the level of ₹600, which may create a new record of inflation in the country.
Read this news also…
Government will intervene if air fares are increased: Will hold meeting with airlines soon; ATF prices double, Indigo flights costlier by ₹ 10,000
After the recent increase in the prices of Aviation Turbine Fuel (ATF), many airlines have increased the fuel surcharge. In view of the increasing burden on passengers, the Central Government is now preparing to intervene in this matter.
According to a report by NDTV, the government may soon hold a meeting with the airlines so that the common people can get relief from expensive travel. Read the full news…
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