ISLAMABAD: The federal government on Friday has announced to increase the prices of petroleum products with immediate effect.
According to statement issued by the Finance Division, the Government has decided to revise the existing prices of petroleum products in view of the rising oil prices trend in the global market.
The price of petrol has been increased by Rs25.58 to Rs100.10 per litre, while price of High Speed Diesel (HSD) has been increased by Rs21.13 to Rs101.46 per litre.
On the other hand, the price of Light Diesel Oil (LDO) has been increased by Rs17.84 to Rs55.98 per litre and the price of Superior Kerosene Oil (SKO), has been increased by Rs23.50 to Rs59.06 per litre.
The revised-up prices are to come into effect at 12am tonight (0000 hours, Saturday).
PPP chairperson Bilawal Bhutto Zardari, condemning the increase, termed it as “anti-poor”.
“Imran Khan cannot prop up a plunging economy by looting money from the people’s pockets,” Bilawal said.
Bilawal said that the government had allowed the hoarding of petrol by slashing rates and now it is benefiting the petrol mafia by increasing prices.
“The selected prime minister has no realisation of the woes of the common man,” he said.
Bilawal said that the prices of other commodities had not decreased with the slashing in the rates of fuel, but they will certainly see an increase due to a surge in fuel prices.
The premier’s aide on political communication Shahbaz Gill, however, defended the increase, saying that the rates were still the lowest when compared to neighbouring countries.
Gill said that the prices, in terms of Pakistani Rupees, stood at Rs180 in India, Rs137 in China, and Rs174 in Bangladesh.