Islamabad: cash-strapped Pakistan’s interim govt, which is already facing huge economic turmoil, has once again increased the prices of petrol and diesel to a historic record level. Now, the price of petrol and diesel has gone up to around Rs 330 per liter, while the inflation rate has already reached double digits. After getting the approval of Caretaker Prime Minister Anwarul Haq Kakar, the Finance Ministry on Friday night issued an order to increase the price of petrol by Rs 26.02 and diesel by Rs 17.34 per liter.
After this, the prices of petrol and ‘high-speed’ diesel (HSD) have increased by more than Rs 330 per liter. According to reports, quoting sources, the prices of petrol and diesel reaching Rs 330 per liter is like breaking of a psychological barrier.
The increase in fuel prices comes after the inflation rate increased by more than 27.4 percent in August. Earlier on September 1 also, the caretaker government had increased the prices of petrol and diesel by Rs 14 per liter. The increase in prices of these petroleum products twice in a fortnight will increase the economic burden on the people of Pakistan. Petrol and HSD are used by all private and public service vehicles.
Few weeks ago there was a nationwide strike against surge in petrol, electricity prices amid rising inflation in Pakistan. Pakistan’s economy has been in a downward spiral for several years, leading to uncontrolled inflation and increasing pressure on the country’s poor population. This surge in fuel prices increases the financial challenges faced by a significant section of the population, making it difficult for them to make ends meet.
