Petrol Rs 272/Ltr & Diesel Rs 280/Ltr in Pakistan

Citizens in Pakistan, reeling under a severe economic crisis are now compelled to pay up Rs 272 for a litre of petrol. A litre of diesel now costs Rs 280 in this Islamic nation. Pakistan government decided to hike fuel prices to provide some stability to its dwindling economy. But it has added to the financial burden of commoners of Pakistan which is facing its worst economic crisis in history.

According to GEO TV of Pakistan, petrol prices went up Rs 22.20, while diesel price increased by around Rs 17. Kerosene is also costlier at Rs 202.73 per litre. The new prices came into effect from 12 AM on Thursday.

Pakistan government was compelled to opt for this fuel price hike because of pressure from the International Monetary Fund (IMF). It was a condition set by the IMF for releasing crucial monetary aid to Pakistan.

This stiff increase in the price of petroleum products came a few hours after the Shehbaz Sharif government tabled a supplementary finance bill in the Pakistan National Assembly.

Pakistan government has hiked goods and services tax to 18 per cent. Through it, Pakistan government wants to collect Rs 170 billion as revenue to alleviate the continuing economic crisis in the country.

The recent hike in the price of petroleum products will surely enhance inflation in Pakistan where basic commodities are out of reach of commoners.  A litre of milk is being sold at Rs 210, while a kilo of chicken costs Rs 700-800. Despite high price, people are finding it hard to procure proper amount of wheat as per their needs.