Ishaq Dar's (non?) performance watch as Finance Minister

[MenInG]

Finance Minister Miftah Ismail on Thursday announced that the federal government has decided to raise the prices of petroleum products by Rs30 per litre, with the hike set to go into effect at midnight tonight.

After the hike, the price of petrol will be at Rs179.86, diesel at Rs174.15, kerosene oil at Rs155.56 and light diesel at Rs148.31.

The finance minister made the announcement at a press conference in Islamabad and explained that the decision was taken in order to ensure the revival of the International Monetary Fund (IMF) programme.

Ismail said the government had no other option but to raise the prices, adding that "we are still bearing a loss of Rs56 per litre on diesel" even under the new pricing.

He was of the view that the government was aware of the political repercussions of the decision, saying "we will face criticism but the state and its interests are important to us and it is necessary for us to save it."

He said the country could have gone in the "wrong direction" if the steps were not taken. He said the decision was a tough one for Prime Minister Shehbaz Sharif, saying "we cannot let the state sink for the sake of politics."

The finance minister blamed ex-premier Imran Khan for freezing the petrol prices after "realising that the days of his government were numbered".

He claimed the price revision was not solely due to the IMF's pressure, saying "the Fund indeed refused to grant further loan until we raise prices ... but we [also] had to take this decision after all."

Ismail insisted that the prices of essential items will go down whenever the rupee appreciates against the US dollar.

The minister claimed to have held "very good, positive talks with the IMF" as he assured that "more positive talks will follow after the decision we have taken today."

He expressed hope that a staff-level agreement will be reached with the IMF in days to come.

The price hike comes a day after the government and the IMF failed to reach an agreement on an economic bailout mainly because of the former's indecision on fuel and electricity subsidies and resultant next year’s budget uncertainties.

https://www.dawn.com/news/1691605/govt-raises-prices-of-petroleum-products-by-rs30-per-litre

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Finally PDM has exploded the petrol/ diesel price atom bomb. Th is will cause hyper inflation.They could have availed the Russian offer of cheaper oil and also given targeted subsidies. After all they had 6 weeks to do the same. Shows total lack of concern for the common man.</p>— Shaukat Tarin (@shaukat_tarin) <a href="https://twitter.com/shaukat_tarin/status/1529883016377532417?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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[KingKhanWC]

30 rps is huge.

Imran can still at home for the next 6-12 months, these backward leaders and their fans will send Pakistans economy down the drain.

I wonder how much of the peoples money/taxes have already been laundered and sent to their overseas bank accounts.

 

[MenInG]

Love the idiotic statements by Miftah and SS about not raising prices etc.

 

[Bewal Express]

I thought it was all IKs fault and they would cut the prices.

 

[KingKhanWC]

I thought it was all IKs fault and they would cut the prices.

Im assuming other commodities have risen in price too?

Can anyone in Pakistan update the prices on ... sugar, rice, oil, grain.etc?

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Nation starting to pay price for Imported govt's subservience before foreign masters with 20% / Rs30 per litre hike in petrol & diesel prices - the highest single price hike in our history.The incompetent & insensitive Govt has not pursued our deal with Russia for 30% cheaper oil</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1529889726479896579?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">In contrast India, strategic ally of US, has managed to reduce fuel prices by Pkr 25 per litre by buying cheaper oil from Russia. Now our nation will suffer another massive dose of inflation at the hands of this cabal of crooks.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1529889729109696512?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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[wasim-fan]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">In contrast India, strategic ally of US, has managed to reduce fuel prices by Pkr 25 per litre by buying cheaper oil from Russia. Now our nation will suffer another massive dose of inflation at the hands of this cabal of crooks.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1529889729109696512?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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So what is he saying ? They should not have hiked the rates ?

 

[Bewal Express]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">In contrast India, strategic ally of US, has managed to reduce fuel prices by Pkr 25 per litre by buying cheaper oil from Russia. Now our nation will suffer another massive dose of inflation at the hands of this cabal of crooks.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1529889729109696512?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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Cabal of crooks- does Kaptaan read my posts

 

[Bewal Express]

So what is he saying ? They should not have hiked the rates ?

Yes, he had a deal, the imports couldn't annoy their American masters and stopped the deal.

 

[Champ_Pal]

World wide the prices have shot up. Government will go bankrupt if they keep subsidizing oil.

Where I am at, it is $4.60 now. Not long ago, it was $3.00. India plays on both sides of the court. They buy from whoever sells cheaper. India never puts all its eggs in 1 basket.

 

[Major]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

 

[MenInG]

When you have chors in power:

https://www.dawn.com/news/1687249

 

[Major]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">In contrast India, strategic ally of US, has managed to reduce fuel prices by Pkr 25 per litre by buying cheaper oil from Russia. Now our nation will suffer another massive dose of inflation at the hands of this cabal of crooks.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1529889729109696512?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
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) And imran has started to bash the govt.


Oh man, this guy never had any sense. He will look for anything to bash the govt when he is not in power.

Even if he was pm, he was not gonna get oil from Russia. It takes time to finalize a deal, plus, if russia was approached through foreign office than negotiations could still be carried forward as bureucracy keeps on operating no matter who the pm is.

The guy talks as if he was gonna save the country or gonna do this or that if he was not ousted....

He will critisize anything the govt will do and his minions will accept it has truth

 

[wasim-fan]

Yes, he had a deal, the imports couldn't annoy their American masters and stopped the deal.

1) no such deal confirmed from Russian side. 2) hike has to be done anyway for next trache of IMF loan. 3 ) Govt is subsidizing 80 PKR per litre oil. This is not sustainable in a fragile economy.

 

[KingKhanWC]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

Crude oil prices are set not petrol prices, these are set by governments. Some charge 20% tax, others charge upto 40% tax.

I would do your shopping too because prices of all goods will skyrocket while the chors will become more wealthy.

 

[Xoib]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

And then he found a solution for it by looking to get discounted oil from Russia but your band of crooks spoiled it and the poor masses are suffering because of their incompetence/ ill intentions

 

[KingKhanWC]

1) no such deal confirmed from Russian side. 2) hike has to be done anyway for next trache of IMF loan. 3 ) Govt is subsidizing 80 PKR per litre oil. This is not sustainable in a fragile economy.

Deal was signed for gas and wheat. If IK was in power he would also make a deal for cheaper oil than its on the market as other nations have done. Putin wont deal with temps in office so Pakistan cant benefit. If you want crooks in charge be happy to pay more for everything. Nobody would allow a thief in their kitchen and not except for their bread to remain.

 

[Bewal Express]

1) no such deal confirmed from Russian side. 2) hike has to be done anyway for next trache of IMF loan. 3 ) Govt is subsidizing 80 PKR per litre oil. This is not sustainable in a fragile economy.

But Maryam and Miftah said it should be lower, are you saying the experienced party was lying to PK public . Surely not.

 

[Bewal Express]

) And imran has started to bash the govt.


Oh man, this guy never had any sense. He will look for anything to bash the govt when he is not in power.

Even if he was pm, he was not gonna get oil from Russia. It takes time to finalize a deal, plus, if russia was approached through foreign office than negotiations could still be carried forward as bureucracy keeps on operating no matter who the pm is.

The guy talks as if he was gonna save the country or gonna do this or that if he was not ousted....

He will critisize anything the govt will do and his minions will accept it has truth

Are you OK with the increase

 

[Major]

Crude oil prices are set not petrol prices, these are set by governments. Some charge 20% tax, others charge upto 40% tax.

I would do your shopping too because prices of all goods will skyrocket while the chors will become more wealthy.

And as soon as pti has been ousted the minions now coming up with govt setting prices etc

https://macropakistani.com/petrol-pricing/

 

[Major]

And then he found a solution for it by looking to get discounted oil from Russia but your band of crooks spoiled it and the poor masses are suffering because of their incompetence/ ill intentions

There has been no mentioned that he was there for oil imports.

Trade talks are done between foreign office, not pm. Foreign office operates even when pm changes. If a deal was done it would had been carried forward. There is a reason why bureaucracy exists.

 

[MenInG]

When you have chors in power:

https://www.dawn.com/news/1687249

Their niyat was never good - the lengths they went to get themselves int Govt.

Poor Pakistanis will suffer due to this manhoosat

 

[Bewal Express]

There has been no mentioned that he was there for oil imports.

Trade talks are done between foreign office, not pm. Foreign office operates even when pm changes. If a deal was done it would had been carried forward. There is a reason why bureaucracy exists.

Well we will never know but one thing is for sure, the mafia have destroyed the economy in 7 weeks. Never has so much destruction taken place in such a small period. Rp has dropped 12.5% in 7 weeks, and what did we get for this destruction. Nothing except a few cases were stopped. Total destruction

 

[JaDed]

Finally , Pakistan would had gone bankrupt had this stupidity continued..

It’s better to swallow the pill.

 

[DeadlyVenom]

1) no such deal confirmed from Russian side. 2) hike has to be done anyway for next trache of IMF loan. 3 ) Govt is subsidizing 80 PKR per litre oil. This is not sustainable in a fragile economy.

Quite true.

Imrans govt is directly responsible for a lot of the economic mismanagement too.

Pakistan needs quality politicians not both sides flinging mud at each other.

 

[Gayle_Force]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

Weren’t you the one bashing PTI non stop for raising gas prices in the other thread? I remember you being adamant that international prices don’t apply to Pakistanis because Pakistanis have much lower income.

I wonder what caused your change of heart this time?

 

[Major]

Their niyat was never good - the lengths they went to get themselves int Govt.

Poor Pakistanis will suffer due to this manhoosat

What they did was constitutional. They atleast did not rig the elections that pti did with the help of isi, thus the benchmark of going to the extreme lengths for governance belongs to pti

 

[Major]

Weren’t you the one bashing PTI non stop for raising gas prices in the other thread? I remember you being adamant that international prices don’t apply to Pakistanis because Pakistanis have much lower income.

I wonder what caused your change of heart this time?

You failed to comprehend what i had said.

My argument was, when imran was on container he. Used to bash pmln for petrol prices but now with him in govt he talks about international mkt price. Thus pointing his hypocrisy.

The lower income point was with regards to when some overseas would day that look at me i pay alot of portion of my dollars for petrol and i deal with so should the locals

 

[Bewal Express]

You failed to comprehend what i had said.

My argument was, when imran was on container he. Used to bash pmln for petrol prices but now with him in govt he talks about international mkt price. Thus pointing his hypocrisy.

The lower income point was with regards to when some overseas would day that look at me i pay alot of portion of my dollars for petrol and i deal with so should the locals

His point was that our economy was destroyed by Corruption and he has walked the walk- 6% growth for 2 years running( during a pandemic, something the PPP never ever achieved, record exports and record tax collection and millions of jobs created.

 

[Bewal Express]

You failed to comprehend what i had said.

My argument was, when imran was on container he. Used to bash pmln for petrol prices but now with him in govt he talks about international mkt price. Thus pointing his hypocrisy.

The lower income point was with regards to when some overseas would day that look at me i pay alot of portion of my dollars for petrol and i deal with so should the locals

Do agree with the increases or not?

 

[Manager101]

Price won't stay at 180. It will jump to 200 in 15 days and then 250 in 30 days under this highly incompetent + corrupt + politically stupid alliance of purana Pakistan.

 

[Major]

Do agree with the increases or not?

Yes

 

[Major]

Price won't stay at 180. It will jump to 200 in 15 days and then 250 in 30 days under this highly incompetent + corrupt + politically stupid alliance of purana Pakistan.

So if imran was in govt, it would had not increased?

 

[Gayle_Force]

You failed to comprehend what i had said.

My argument was, when imran was on container he. Used to bash pmln for petrol prices but now with him in govt he talks about international mkt price. Thus pointing his hypocrisy.

The lower income point was with regards to when some overseas would day that look at me i pay alot of portion of my dollars for petrol and i deal with so should the locals

Wasnt PDM doing a mehngai mukkao march not too long ago? why the uturn?

Here is the thread for reference btw: http://www.pakpassion.net/ppforum/s...er-in-the-history-of-Pakistan&highlight=price

reminds me of a certain khwaja asif quote

 

[GoUgandaCranes]

Have always maintained that there should be no politics on petrol prices (other items that are imported and have variable costs) but the discussion should be on the tax that's collected by the government on each commodity and import substitute/steps taken for alternate value creation of the same said resource.

For example, the discussion shouldn't be on petrol price increase but tax and policy-making for reduction of oik imports and alternate accrual of Petrol.

So my question is

1. When was the last time powerplants were set up that required oil/diesel as fuel? Why was it done and by whom? Are we still running those plants and if we are, what's our bigger picture there?

2. Where's the electric vehicle policy and how are we enforcing car manufacturers like Toyota and Suzuki to shift to electrical vehicles?

3. What's the real demand for oil in the public sector? How can local transport reduce the demand for petrol here? How is it being planned in the budget for the year? Why are we still moving goods and transport in trucks that require diesel instead of a freight train? Can we have a route downstream where we can use a canal system to transport goods for free?

4. What are alternate sources of oil import. Even if IK is lying, why can't we start the negotiations for that now? What's stopping us from doing that while we know fully well that Russia is selling cheaper oil to India and China?

Our entire discourse in the media however is revolving around subsidy and protection of political capital and other low-intellect takes that are cringeworthy to the core. It's also being termed as a big decision - matlab kuch bhi.

 

[Kaddy]

Have always maintained that there should be no politics on petrol prices (other items that are imported and have variable costs) but the discussion should be on the tax that's collected by the government on each commodity and import substitute/steps taken for alternate value creation of the same said resource.

For example, the discussion shouldn't be on petrol price increase but tax and policy-making for reduction of oik imports and alternate accrual of Petrol.

So my question is

1. When was the last time powerplants were set up that required oil/diesel as fuel? Why was it done and by whom? Are we still running those plants and if we are, what's our bigger picture there?

2. Where's the electric vehicle policy and how are we enforcing car manufacturers like Toyota and Suzuki to shift to electrical vehicles?

3. What's the real demand for oil in the public sector? How can local transport reduce the demand for petrol here? How is it being planned in the budget for the year? Why are we still moving goods and transport in trucks that require diesel instead of a freight train? Can we have a route downstream where we can use a canal system to transport goods for free?

4. What are alternate sources of oil import. Even if IK is lying, why can't we start the negotiations for that now? What's stopping us from doing that while we know fully well that Russia is selling cheaper oil to India and China?

Our entire discourse in the media however is revolving around subsidy and protection of political capital and other low-intellect takes that are cringeworthy to the core. It's also being termed as a big decision - matlab kuch bhi.

Good post.

Problem is common people don't think like that and political parties and their allied media channels always play this petrol prices card against government.

 

[Extra_Cover]

I'm very surprised at the tone of some posters here. Just some weeks back some posters were bashing PTI for inflation to no end. My argument of inflation across the world did not make sense to some posters as according to them the salary levels in Pakistan cannot sustain such inflation levels.

Today same posters are justifying this increase as a sane decision. Hypocrisy is a bad sin.

For PDM the party that brought us mehngai mukao march brought us mehngai. Irony.

 

[Kaddy]

I'm very surprised at the tone of some posters here. Just some weeks back some posters were bashing PTI for inflation to no end. My argument of inflation across the world did not make sense to some posters as according to them the salary levels in Pakistan cannot sustain such inflation levels.

Today same posters are justifying this increase as a sane decision. Hypocrisy is a bad sin.

For PDM the party that brought us mehngai mukao march brought us mehngai. Irony.

Its not the posters here only.

A lot of our intellectually dishonest analysts are doing the same.

 

[Gayle_Force]

I'm very surprised at the tone of some posters here. Just some weeks back some posters were bashing PTI for inflation to no end. My argument of inflation across the world did not make sense to some posters as according to them the salary levels in Pakistan cannot sustain such inflation levels.

Today same posters are justifying this increase as a sane decision. Hypocrisy is a bad sin.

For PDM the party that brought us mehngai mukao march brought us mehngai. Irony.

Not really surprising but yea this thread is a clear example of blatant dishonesty by some posters here.

 

[saeedhk]

‘Imran had illegally kept petrol prices at lower rate,’ Info Minister.

 

[Syed1]

I'm very surprised at the tone of some posters here. Just some weeks back some posters were bashing PTI for inflation to no end. My argument of inflation across the world did not make sense to some posters as according to them the salary levels in Pakistan cannot sustain such inflation levels.

Today same posters are justifying this increase as a sane decision. Hypocrisy is a bad sin.

For PDM the party that brought us mehngai mukao march brought us mehngai. Irony.

These people reek of dishonesty and hypocrisy. A distinct lack of morals.... But if they had morals they really wouldn't be supporting known looters and plunderers.

 

[Syed1]

Same posters on here used to slit wrists when PTI used to raise prices by 5 ruppees but now they are giving us justification of 30 ruppees increase.

<blockquote class="twitter-tweet"><p lang="ur" dir="rtl">عمران خان حکومت 5 روپے تیل کی قیمت برھاتی تھی تو چند لوگ اتنا چیختے تھے کہ منہ سے جھاگ نکل آتی تھی۔ آج وہی لوگ پٹرول کی قیمت 30 روپے بڑھانے کے فضائل بیان کر رہے ہیں۔</p>— Hammad Azhar (@Hammad_Azhar) <a href="https://twitter.com/Hammad_Azhar/status/1529896036461948949?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[ElRaja]

sensible move, pakistan cannot afford to subsidise fuel at current prices.

Have always maintained that there should be no politics on petrol prices (other items that are imported and have variable costs) but the discussion should be on the tax that's collected by the government on each commodity and import substitute/steps taken for alternate value creation of the same said resource.

For example, the discussion shouldn't be on petrol price increase but tax and policy-making for reduction of oik imports and alternate accrual of Petrol.

So my question is

1. When was the last time powerplants were set up that required oil/diesel as fuel? Why was it done and by whom? Are we still running those plants and if we are, what's our bigger picture there?

2. Where's the electric vehicle policy and how are we enforcing car manufacturers like Toyota and Suzuki to shift to electrical vehicles?

3. What's the real demand for oil in the public sector? How can local transport reduce the demand for petrol here? How is it being planned in the budget for the year? Why are we still moving goods and transport in trucks that require diesel instead of a freight train? Can we have a route downstream where we can use a canal system to transport goods for free?

4. What are alternate sources of oil import. Even if IK is lying, why can't we start the negotiations for that now? What's stopping us from doing that while we know fully well that Russia is selling cheaper oil to India and China?

Our entire discourse in the media however is revolving around subsidy and protection of political capital and other low-intellect takes that are cringeworthy to the core. It's also being termed as a big decision - matlab kuch bhi.

1. Pakistan has increased its proportion of electricity generated from renewables however mass rollout would mean huge project costs that require massive importation of equipment, thus driving up the CAD again.

2. Importing eclectic cars is not practical, basic electric cars after tax would be around 80 to 90 lakh rupees I'm guessing, and with no infrastructure to maintain or repair these vehicles that is not a wise investment.

3. Primary economic demand comes from transport and logistics, which cannot practically be moved away from diesel any time soon. even in the developed world logistics revolve around trucks, which is why diesel has gotten more expensive than nearly all other petro products.

4. Contrary to popular belief, not many, even if Pak got Russian oil, it's heavy, not sweet, and cheaper than brent most of the time anyway, you would need advanced refineries to obtain the more desirable products, and pakistans refineries are old tech, hence why India and china can import Russian oil, but it would be far less effective for pak.

the low intellect take is realpolitik. what u are talking about is long term policy stuff that requires political stability, 10, 15, 20 year projects. you dont worry about what kid your uni is going to go to if you dont have the money to pay his second-grade school fees.

 

[Gayle_Force]

Increase in power, petrol prices is ‘economic murder’ of people: Bilawal - https://www.dawn.com/news/1669818

This was Bilawal less than six months ago. What a U-Turn or maybe i should take it as an admission that PPP, PMLN and the rest of PDM are murderers of poor Pakistani people.

 

[Savak]

The badniyat Uturn by some badniyat politicians and some notorious individuals tells you why Pakistan has become a failed state

 

[Colorblind Genius]

Finance Minister Miftah Ismail on Thursday announced that the federal government has decided to raise the prices of petroleum products by Rs30 per litre, with the hike set to go into effect at midnight tonight.

After the hike, the price of petrol will be at Rs179.86, diesel at Rs174.15, kerosene oil at Rs155.56 and light diesel at Rs148.31.

The finance minister made the announcement at a press conference in Islamabad and explained that the decision was taken in order to ensure the revival of the International Monetary Fund (IMF) programme.

Ismail said the government had no other option but to raise the prices, adding that "we are still bearing a loss of Rs56 per litre on diesel" even under the new pricing.

He was of the view that the government was aware of the political repercussions of the decision, saying "we will face criticism but the state and its interests are important to us and it is necessary for us to save it."

He said the country could have gone in the "wrong direction" if the steps were not taken. He said the decision was a tough one for Prime Minister Shehbaz Sharif, saying "we cannot let the state sink for the sake of politics."

The finance minister blamed ex-premier Imran Khan for freezing the petrol prices after "realising that the days of his government were numbered".

He claimed the price revision was not solely due to the IMF's pressure, saying "the Fund indeed refused to grant further loan until we raise prices ... but we [also] had to take this decision after all."

Ismail insisted that the prices of essential items will go down whenever the rupee appreciates against the US dollar.

The minister claimed to have held "very good, positive talks with the IMF" as he assured that "more positive talks will follow after the decision we have taken today."

He expressed hope that a staff-level agreement will be reached with the IMF in days to come.

The price hike comes a day after the government and the IMF failed to reach an agreement on an economic bailout mainly because of the former's indecision on fuel and electricity subsidies and resultant next year’s budget uncertainties.

https://www.dawn.com/news/1691605/govt-raises-prices-of-petroleum-products-by-rs30-per-litre

And more over, these crooks at PDM hav issued themselves a new NRO - now you can’t go after them.

IMO,
Anyone who voted for any of these crooks to send them to national and provincial assemblies is THE BIGGEST enemy of Pakistan.

 

[Colorblind Genius]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Finally PDM has exploded the petrol/ diesel price atom bomb. Th is will cause hyper inflation.They could have availed the Russian offer of cheaper oil and also given targeted subsidies. After all they had 6 weeks to do the same. Shows total lack of concern for the common man.</p>— Shaukat Tarin (@shaukat_tarin) <a href="https://twitter.com/shaukat_tarin/status/1529883016377532417?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

They would NEVER take the Russian offer.

They want those IMF Loan dollars to loot!

It’s all about money going into their pockets.

 

[Colorblind Genius]

So what is he saying ? They should not have hiked the rates ?

Wasn’t the opposite the promise of PDM? They said they will cut down the “mehangai” aur “awaam k sar pe shafqat ka haath rakhengey”.

SS is on the record promising this during PTI’s ouster, and I have the video link.
You want to watch it?

 

[Xoib]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

Yes

So PDM mehangai mukao match was a farce. Yes or no?

 

[Vatta]

There's always a tweet...

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Thank You Mian Sb <a href="https://t.co/37ENJaBy73">pic.twitter.com/37ENJaBy73</a></p>— Imran Khan (@ImranRiazKhan) <a href="https://twitter.com/ImranRiazKhan/status/1529933409811939351?ref_src=twsrc%5Etfw">May 26, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

As well as the farcical so called "Mehngai Ka Khalaf Long March" and the "Mehangai Mukao March"

 

[MenInG]

Wait for it... there is more...

==

Finance Minister Miftah Ismail on Thursday said that Prime Minister Shehbaz Sharif will announce a relief package for those who can’t afford the government's hike in fuel prices.

In a bid to restore the International Monetary Fund (IMF) programme to support the fragile economy, Finance Minister Miftah Ismail announced a massive hike in the price of petroleum products last night.

The decision was taken in light of the IMF guidelines as the global lender insisted removal of petroleum subsidies to revive the much-needed programme for Pakistan.

Speaking on Geo News programme Aaj Shahzeb Khanzada Kay Saath, Miftah Ismail lambasted former prime minister Imran Khan for the agreement he had made with IMF.

“Imran Khan had promised IMF that Rs30 levy and 17% sales tax would be charged on petroleum products,” he said.

The finance minister said that due to the unilateral decision of Imran Khan to give subsidies on petrol, the government was bearing a loss of Rs120 billion per month.

“This was tough decision taken by Prime Minister Shehbaz Sharif. But in today's address to the nation, he will announce a relief package for those who can’t afford high prices of fuel,” he added.

Miftah said that the government had already said that the IMF programme would not begin unless subsidies on petroleum products are abolished.

Because of the current decision to hike fuel prices, Miftah Ismail feared losing political capital and said, “honestly telling you, we have admitted that by deciding on hiking fuel prices, we will suffer politically but this is our country and will sacrifice to fix its issues.”

Ismail admitted that the current hike in petrol prices will shift the burden on the masses and increase inflation.

Rejecting any chance of defaulting, Miftah said, “I’m giving you a guarantee on two things: the IMF programme will be restored and Pakistan will not be going bankrupt”.

GEO

 

[Kianig89]

Petrol prices is one thing but the direct proportion it has with commodities and eatables is frightening now all vegetables, dairy meat etc will have 20-30% hike which will bombard the common man

 

[MenInG]

Petrol prices is one thing but the direct proportion it has with commodities and eatables is frightening now all vegetables, dairy meat etc will have 20-30% hike which will bombard the common man

The idea is to hold onto power.

 

[Major]

Wasnt PDM doing a mehngai mukkao march not too long ago? why the uturn?

Here is the thread for reference btw: http://www.pakpassion.net/ppforum/s...er-in-the-history-of-Pakistan&highlight=price

reminds me of a certain khwaja asif quote

There is a difference between tax and subsisdy. Back in 2020, govt was charging rs 30 tax on petrol

 

[Extra_Cover]

Have always maintained that there should be no politics on petrol prices (other items that are imported and have variable costs) but the discussion should be on the tax that's collected by the government on each commodity and import substitute/steps taken for alternate value creation of the same said resource.

For example, the discussion shouldn't be on petrol price increase but tax and policy-making for reduction of oik imports and alternate accrual of Petrol.

So my question is

1. When was the last time powerplants were set up that required oil/diesel as fuel? Why was it done and by whom? Are we still running those plants and if we are, what's our bigger picture there?

2. Where's the electric vehicle policy and how are we enforcing car manufacturers like Toyota and Suzuki to shift to electrical vehicles?

3. What's the real demand for oil in the public sector? How can local transport reduce the demand for petrol here? How is it being planned in the budget for the year? Why are we still moving goods and transport in trucks that require diesel instead of a freight train? Can we have a route downstream where we can use a canal system to transport goods for free?

4. What are alternate sources of oil import. Even if IK is lying, why can't we start the negotiations for that now? What's stopping us from doing that while we know fully well that Russia is selling cheaper oil to India and China?

Our entire discourse in the media however is revolving around subsidy and protection of political capital and other low-intellect takes that are cringeworthy to the core. It's also being termed as a big decision - matlab kuch bhi.

Good post.

I just wanted to highlight the bolded part. Let's assume that negotiations with Russia were in infancy and couldn't be completed by PTI now what is stopping PDM from taking over these negotiations on oil and wheat discounted prices?

The answer is simple any interaction with Russia will **** off US. This current setup of PDM is more loyal to US than to Pakistani. If they had a backbone (which can only grow through public power which they don't have) they would have proceeded with discussions with Russia. PDM is a spineless creature ala snake.

PDM is a puppet in a marionette where their strings are being pulled from different directions. Too many strings and the entire thing collapses and that is eventually the end of this disaster. I don't see a good end of PDM.

Just imagine after dropping this inflation bomb on public if tomorrow BAP announces discontinuation from PDM and Alvi asks Shahbaz to take vote of confidence. That would be an epic slap on PDM and especially PMLN who would suffer in elections due to raising prices.

 

[MenInG]

Incase a reminder needed

Like I said you cannot take Chor out of this lot.

 

[Gayle_Force]

There is a difference between tax and subsisdy. Back in 2020, govt was charging rs 30 tax on petrol

What are you talking about? The mehngai mukkao March was happening as recently as 2 months ago in March 2022. Bilawal was calling petroleum prices ‘economical murder’ in January this year.

I am sorry to say but you have really exposed yourself in this thread by taking this U-Turn.

 

[Bewal Express]

There is a difference between tax and subsisdy. Back in 2020, govt was charging rs 30 tax on petrol

Your lies exposed like your leaders. They came into cut prices, and now they are saying they cant because of international prices- so why did they lie 2 months ago.

 

[mazkhan]

We could have got cheap discounted gas and oil from Iran and Russia

But us pressure put an end to that alongwith the regime change.

Intl prices didn't matter because russia and Iran were willing to do the deals.

Instead we now have to import expensive fuel from sandal wearers in the desert who treat pakistani workers as serfs and slaves

 

[Pakpak]

This is hilarious, same Major who was happy these frauds were being brought to control this 'mehngai' now says 'sane decision'

This would be laughable if it wasn't so pathetic and sad

 

[MenInG]

This is hilarious, same Major who was happy these frauds were being brought to control this 'mehngai' now says 'sane decision'

This would be laughable if it wasn't so pathetic and sad

I feel that most fair minded people are totally bemused by this.

Unfortunately for many this is not a laughing matter.

 

[mazkhan]

It will cause massive rise In prices because of the fuel the retailers will up their prices.
It will effect our agricultural who need diesel for machinery, tube Wells and cost of fertiliser


It will increase fuel poverty amongst the masses and limit their mobility , laughing aside people could start going back to the horse and cart mode of life , don't be surprised if people end up living life like grandpa did and buy a khoti (donkey) to get around since fuel will cost so much that they cant budget for it .

 

[Major]

We could have got cheap discounted gas and oil from Iran and Russia

But us pressure put an end to that alongwith the regime change.

Intl prices didn't matter because russia and Iran were willing to do the deals.

Instead we now have to import expensive fuel from sandal wearers in the desert who treat pakistani workers as serfs and slaves

Lol oil from iran, cuban style revolution. Where do you get your news?

There are sanctions and embargoes on trade with Iran. You cant just decide to trade with anyone you want.

Russian deal never happened as mentioned before in this thread

 

[Major]

This is hilarious, same Major who was happy these frauds were being brought to control this 'mehngai' now says 'sane decision'

This would be laughable if it wasn't so pathetic and sad

So petrol should be subsidized with foreign reserves being depleted further?

 

[DRsohail]

Beggars with support from beggars have bad day.Shohbaz teri parwaz sa jalta aha zamana.
Tum awr bhi petrol ko hawa do lo.IK has to wait and see these thugs will destroy everything.

 

[mazkhan]

Lol oil from iran, cuban style revolution. Where do you get your news?

There are sanctions and embargoes on trade with Iran. You cant just decide to trade with anyone you want.

Russian deal never happened as mentioned before in this thread

Mu ha ha ha

Iran already supplies fuel to Europe, Spain and Italy the eu is even thinking of increasing iranian oil and gas

Russia supplies significantly to Europe, a lot of Europe relies on Russian gas . India has done a deal with Russia.

The sanctions are only on pakistan and beggers can't be choosers imported government

Russian deal was there

Iran had even built a pipeline to pakistan and was waiting for beggers can't be choosers to build their side .

Beggers can't be choosers have caused energy insecurity and thanks to the zionist cabal have stalled cpec which is another no no from them they can't have China developing pakistan cities and uplifting people out of poverty and creating jobs that means we can't be held to to ransom in buying gas from the camel herders and sending our workers as slaves to earn their pittance crumbs in the middleast and send back remittances

As for the cuban style revolution it will happen when people start dying from food shortages in the near future they will lynch the crooks and generals you have 200 million people here its not some insignificant country

 

[wasim-fan]

So quick question who think Russia would have given oil at 30% discount anytime now. Ofcourse this is bogus for anyone who understand Russia and their oil economy. But let's say the final deal was done and the imported govt is stopping it.

2 questions :-

1) PTI was in power for 3.5 years. Why didn't they go ahead and buy from Iran ? Would be even cheaper than Russia.

2) How did IK manage to reduce petrol price in Feb with increasing crude prices ? There was no Russian oil then ?

 

[mazkhan]

Because ik was following the old model with the imf and realised to late that these people will never let pakistan out of the trap.

The moment he went off script and kicked his legs and tried to rebel he was ousted in quick fashion.

 

[Colorblind Genius]

Had to run to the pump to get it while it was at 150 as soon as this was announced. Long lines, was only able to get a quater tank. Apprently, news travels fast.

Sane decision, was needed to and required. Atleast this time around imran khan cant bash the govt for petrol prices as he has learned that prices are set at international market. From his container days to pm office till his ouster, he must have had a big learning curve.

However, knowing Imran you never know, he can still come out next week and bash the govt for raising petrol prices like he did during his container days

huh ??
Why?

Shouldn't you be buying petrol on new high prices so that this govt gets the much needed money out of you?

 

[audi1]

P = Petrol
D = Diesel
M = Menghi

 

[Major]

huh ??
Why?

Shouldn't you be buying petrol on new high prices so that this govt gets the much needed money out of you?

Unlike you, i live in this country and have to live here and plus i have voting rights..... Thus, like a common citizen with basic pay, i will also look to buy things cheap

 

[Major]

So quick question who think Russia would have given oil at 30% discount anytime now. Ofcourse this is bogus for anyone who understand Russia and their oil economy. But let's say the final deal was done and the imported govt is stopping it.

2 questions :-

1) PTI was in power for 3.5 years. Why didn't they go ahead and buy from Iran ? Would be even cheaper than Russia.

2) How did IK manage to reduce petrol price in Feb with increasing crude prices ? There was no Russian oil then ?

Taxes were removed on petrol

 

[Colorblind Genius]

Unlike you, i live in this country and have to live here and plus i have voting rights..... Thus, like a common citizen with basic pay, i will also look to buy things cheap

so there is no tangible support from you? Where is the Qurbani? Or you just blabber from the mouth and want OTHERS to become sacrifice lamb?
Funny that I live in a foreign country, do not have voting rights in Pakistan YET I support Pakistan with my money.

How do people even see their own face in the mirror?

 

[Major]

so there is no tangible support from you? Where is the Qurbani? Or you just blabber from the mouth and want OTHERS to become sacrifice lamb?
Funny that I live in a foreign country, do not have voting rights in Pakistan YET I support Pakistan with my money.

How do people even see their own face in the mirror?

So support means that you buy a product above market price?

How is buying above market price equal to qurbani? How is anyone becoming a sacrificial lamb?

 

[Bewal Express]

So support means that you buy a product above market price?

How is buying above market price equal to qurbani? How is anyone becoming a sacrificial lamb?

You don't have a leg to stand on because of your hypocrisy. You pretended to be anti Mullah but as we know that was crap, you pretended to be anti Generals and as we know we have a govt led by a General, you complained by inflation and petrol prices and your govt refused a deal with Russia and put prices up.

 

[Gayle_Force]

So quick question who think Russia would have given oil at 30% discount anytime now. Ofcourse this is bogus for anyone who understand Russia and their oil economy. But let's say the final deal was done and the imported govt is stopping it.

2 questions :-

1) PTI was in power for 3.5 years. Why didn't they go ahead and buy from Iran ? Would be even cheaper than Russia.

2) How did IK manage to reduce petrol price in Feb with increasing crude prices ? There was no Russian oil then ?

Personally speaking, I think the issue is not about gas prices. They should not be subsidized and this issue should never have been politicized. Even if IK did this in the past in his Jalsas, it was wrong. This PDM, however, built an entire case around ‘mehngai’ last year as a backbone for their case to oust PTI and IK. You don’t have to go very far, this is just from last 6-10 months.

Now the very same PDM, that was crying about mehngai and petroleum prices is dropping major meh bhai bombs on the public. So tell me than what was the point of ousting IK? It is the hypocrisy that most people are pointing out here.

Same with a certain poster here, who created a thread last year constantly bashing PTI for gas price increases and that time the increase was of 5-10rs. No amount of debate around international price pressure was satisfactory for him. Now the same poster is calling a 30rs hike and future hikes as a sane decision. It is the hypocrisy that I think most people are calling out.

In terms of Russia, I don’t know whether a deal was there or not but IK definitely went there so there was some negotiation atleast that is evident.

Certain things(including oil and other commodity prices) should never be made political (not by any party including PTI). As far as I understand, this was the very reason behind the no confidence motion and that should be a big shame for the country and certain posters here.

 

[sjahmed23]

Tough times lie ahead. People need to stick to the basics now.

 

[Major]

You don't have a leg to stand on because of your hypocrisy. You pretended to be anti Mullah but as we know that was crap, you pretended to be anti Generals and as we know we have a govt led by a General, you complained by inflation and petrol prices and your govt refused a deal with Russia and put prices up.

Plz propose a foreign policy with russia, we all would like to hear it. That to during the ukraine crises when taking sides can be a problem.