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

[saeedhk]

It is utterly shameful that Pakistan continues to be a slave and refuses to take decisions that are in national interest.

I have been keenly following Iran-Pakistan gas pipeline since 2013 but successive governments have refused to buy Iranian gas due to Saudi and US pressure. The IP pipeline was to provide three times cheaper gas but our puppets are scared of the Saudis and Americans. The Iranians have been pleading with us to buy gas from them as they have already completed their part of the pipeline but they have always been met with a cold shoulder. The Iranians have spent US $2 billion but it has gone to waste!

Khan also proved no different and said making IP pipeline would upset the US. We will always remain a poverty-stricken third world nation.

 

[Kianig89]

Filling tanks at Rs.180 is quite tough 55x180 that's lot of money hopefully PDM will he buried soom

 

[JaDed]

It is utterly shameful that Pakistan continues to be a slave and refuses to take decisions that are in national interest.

I have been keenly following Iran-Pakistan gas pipeline since 2013 but successive governments have refused to buy Iranian gas due to Saudi and US pressure. The IP pipeline was to provide three times cheaper gas but our puppets are scared of the Saudis and Americans. The Iranians have been pleading with us to buy gas from them as they have already completed their part of the pipeline but they have always been met with a cold shoulder. The Iranians have spent US $2 billion but it has gone to waste!

Khan also proved no different and said making IP pipeline would upset the US. We will always remain a poverty-stricken third world nation.

Well said, people are saying Russia Russia.. but Iran is next door.

 

[Colorblind Genius]

Well said, people are saying Russia Russia.. but Iran is next door.

Beggars can't be choosers.

It's ALL ABOUT getting that IMF loan approved.
Soon as those dollars land into the govt's account, there is going to be a feast party in PDM. They will hog on it as if there is no tomorrow.

They will simply increase the national debt to fill their own pockets. This is all what it is.

 

[wasim-fan]

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

This is the truth which none of the politicians will say. It’s going to get a lot worse. This is heading towards SL like situation. Quick measures are needed and an IMF bailout now.

 

[wasim-fan]

It is utterly shameful that Pakistan continues to be a slave and refuses to take decisions that are in national interest.

I have been keenly following Iran-Pakistan gas pipeline since 2013 but successive governments have refused to buy Iranian gas due to Saudi and US pressure. The IP pipeline was to provide three times cheaper gas but our puppets are scared of the Saudis and Americans. The Iranians have been pleading with us to buy gas from them as they have already completed their part of the pipeline but they have always been met with a cold shoulder. The Iranians have spent US $2 billion but it has gone to waste!

Khan also proved no different and said making IP pipeline would upset the US. We will always remain a poverty-stricken third world nation.

Exactly. The non sense about Russia apart what happened to Iran. Neighbourhood country. Can easily deliver oil even today at less than 80$. But this is what happens when elite live off US aid and have businesses in US. Nobody can spite US.

All the anti American non sense is just for distracting the poor from what is coming to them. Almost all elites, close aides and military personnel are either dual citizens or have indirect business interest there. All this chor, patwari non sense means nothing. Just check where all elites are invested you will know why Pakistan is called negotiated state or rented state.

 

[Clueless]

Beggars can't be choosers.

It's ALL ABOUT getting that IMF loan approved.
Soon as those dollars land into the govt's account, there is going to be a feast party in PDM. They will hog on it as if there is no tomorrow.

They will simply increase the national debt to fill their own pockets. This is all what it is.

What prevented the mighty messiah, independent Lion : Imran Khan from getting much needed and cheaper petroleum from Iran??

 

[Clueless]

Filling tanks at Rs.180 is quite tough 55x180 that's lot of money hopefully PDM will he buried soom

Petrol and Diesel is still cheaper in Pakistan as compared to India in PKR terms we pay nearly PKR 260 per litre of petrol.

 

[wasim-fan]

Petrol and Diesel is still cheaper in Pakistan as compared to India in PKR terms we pay nearly PKR 260 per litre of petrol.

Correct because govt is subsidizing the rest. While it struggles to fund its deficit. Must say this certainly Turkey like economics. Cutting interest rates while inflation is increasing.

 

[mazkhan]

This will be very tough for farmers who are struggling anyhow with increase in price of fertiliser.

Now diesel gone up watch acreage being planted go down, farming is a tough job in the best of times in pakistan.

Wonder where these crooks are gonna import grain from in the future and what are they gonna pay with pebbles.

 

[mazkhan]

What prevented the mighty messiah, independent Lion : Imran Khan from getting much needed and cheaper petroleum from Iran??

The American master and their general for rent known as beghairat bajwa .

 

[Colorblind Genius]

What prevented the mighty messiah, independent Lion : Imran Khan from getting much needed and cheaper petroleum from Iran??

What prevents the boot licker Shehbaz Shareef from getting it from Iran instead of running around with a begging bowl to IMF?
Why increase the petrol price when he can get it cheaper from Iran? You tell me.

 

[finalfantasy7]

What prevents the boot licker Shehbaz Shareef from getting it from Iran instead of running around with a begging bowl to IMF?
Why increase the petrol price when he can get it cheaper from Iran? You tell me.

im assuming its the ban on iran - by usa

 

[Major]

What prevents the boot licker Shehbaz Shareef from getting it from Iran instead of running around with a begging bowl to IMF?
Why increase the petrol price when he can get it cheaper from Iran? You tell me.

you do know Imran was also running around with a begging bowl to IMF.

 

[Vatta]

So all that sloganeering about IK ruining the country with price increases and the PDM quest to resolve that.

Anyone care to list what they done to address that please?

 

[Colorblind Genius]

So all that sloganeering about IK ruining the country with price increases and the PDM quest to resolve that.

Anyone care to list what they done to address that please?

The country has been put to dogs.
Lets watch them devour it.

That's all there is to it.

 

[Vatta]

The country has been put to dogs.
Lets watch them devour it.

That's all there is to it.

Dogs are faithful animals. These guys do not possess the noble qualities of dogs.

These guys are rats. They will not rest until their families have ruled over and plundered Pakistan for every rupee.

 

[Savak]

Filling tanks at Rs.180 is quite tough 55x180 that's lot of money hopefully PDM will he buried soom

Rs 10k for filling up the car tank? How are the lower and middle class surviving in Pakistan?

 

[Vatta]

https://twitter.com/iihtishamm/status/1530180126037745667?cxt=HHwWhoC97fStpbwqAAAA

Oh. Ok.

 

[Clueless]

What prevents the boot licker Shehbaz Shareef from getting it from Iran instead of running around with a begging bowl to IMF?
Why increase the petrol price when he can get it cheaper from Iran? You tell me.

From my POV, Shariff, Bhutto and IK are all idiots in terms of policy making. Its just easy to trigger IK bhakts.

Coming to an actual argument: IK had 3.5 years , SS has had just 45 days so far.

 

[Clueless]

im assuming its the ban on iran - by usa

China and Europe buys from Iran and does so the "strong independent foreign policy driven country" India.

 

[Kianig89]

Rs 10k for filling up the car tank? How are the lower and middle class surviving in Pakistan?

they are failing to make the ends meet a continuous struggle a sense of deprivation

 

[Colorblind Genius]

From my POV, Shariff, Bhutto and IK are all idiots in terms of policy making. Its just easy to trigger IK bhakts.

Coming to an actual argument: IK had 3.5 years , SS has had just 45 days so far.

And within those 45 days, he made sure to cripple the NAB and issue an NRO to his family and friends.

 

[MenInG]

Owing to the government’s decision to roll back billions in fuel subsidies to placate the International Monetary Fund (IMF), prices of petroleum products shot up on Friday as subsidies – previously subsidized up to Rs86.71 per litre – were slashed to Rs56.71.

The increase in prices of petroleum products by Rs30 per litre announced by the government on Thursday night took effect on Friday.

According to sources, the subsidy on high-speed diesel (HSD) has come down from Rs86.71 per litre to Rs56.71 per litre.

The subsidy on petrol has been reduced from Rs47.2 to Rs17.2 per litre and the subsidy on light diesel has come down from Rs67.84 to Rs37.84.

Similarly, the subsidy on kerosene has been reduced to Rs21.83 per litre from Rs51.83 per litre.

However, the levy and sales tax on petroleum products will remain zero.

In case the government decided to raise the levy and sales tax, the prices may go up further.

It is pertinent to note that former prime minister Imran Khan had announced a relief package which pushed down the consumer prices of motor spirit (petrol) and high-speed diesel by Rs10 per litre and also put a freeze on prices till the end of the current fiscal year on June 30.

Following the announcement, the petroleum levy and sales tax on petrol and diesel was brought down to zero. That triggered price differential claims from the OMCs and refineries, which were being released by the government in the form of subsidies.

With the fresh hike, the new price of petrol will be Rs179.88 per litre -- the highest ever rate -- and showing an increase of 20% over the existing prices. Ismail said that it was a “difficult decision that will erode the political capital” of the government.

“The government was giving Rs56 per litre subsidy and I have only reduced the loss by Rs30 per litre,” said Finance Minister Miftah Ismail while addressing the news conference.

Miftah said that the government was giving Rs86 per litre subsidy, and in the first batch, it has reduced the subsidy amount by only Rs30.

“The government cannot take the country towards default and is ready to pay the political cost for the sake of protecting the interest of the state,” said the finance minister.

“There is an option whether to protect the political interests of the government or save the country from default and we have decided to protect the state’s interests,” said the finance minister.

Express Tribune

 

[MenInG]

With the gas sector’s circular debt at Rs1.5 trillion, the Petroleum Division on Monday said the gas companies would go bankrupt without a hike in gas tariff that was now inevitable in view of the amended Oil and Gas Regulatory Act.

Minister of State for Petroleum Musadik Malik and Secretary Ali Reza Bhutta while testifying before the Senate Standing Committee on Petroleum said the government did not have money for bailouts and gas tariff increase could not be avoided under the revised Ogra Act passed by the previous government under the IMF programme.

Mr Malik told the meeting of the Senate committee presided over by Senator Abdul Qadir that gas companies’ assets and profits were going down and the government did not have the finances to bail them out. In such a situation, they would become bankrupt.

Ogra Chairman Masroor Khan also told the panel that a freeze on gas prices over the past few years had put the gas companies under financial strain.

Faced with decline in local gas production, state minister for petroleum says govt can only offer relief through cross-subsidy

Secretary Bhutta said the Ogra laws had been amended under the IMF programme and the gas prices determined by the regulator would automatically stand notified on completion of 40 days and the government could not stop this. He said the gas sector circular debt had reached Rs1.5tr and it was now an unsustainable situation.

Mr Malik, however, said the government would try to protect the poor but the most it could do was to cross-subsidise as domestic gas production was depleting and the imported LNG was too expensive.

Senator Qadir said the matter had become very challenging and all the stakeholders would have to look into it seriously. He was of the view that domestic (residential) consumers should be given top priority in the matter of gas supply and pricing. “Domestic users should be charged at affordable rates and industrial units as per the sector concerned,” he said, adding the CNG sector should be allowed to import gas on its own to reduce the burden on the government.

The businessmen from Karachi, however, demanded that gas supply should be stopped to residential consumers or at least be charged full gas prices as applicable to other sectors. “Where in the world are the residential consumers treated on top priority in gas supply? he questioned, adding that natural gas should be provided on economic considerations to compete in the world.

Karachi Chamber of Commerce and Industry leadership briefed the panel about the grievances of industrialists which includes the non-availability of gas for the last five months. Senator Qadir observed that the major cause behind the current economic deterioration was a gap between import and export value and to bring down this trade deficit, we need to give incentives and boost our local industries.

The committee also discussed the relevant rules which allow the Oil Marketing Companies to market High Octane Blending Component (HOBC97). Mr Malik said the Petroleum Division was regulating only those products which are consumed by masses on a large scale like RON 92 but HOBC97 did not fall in this category. He, however, assured the committee the petroleum division would make sure that all products including HOBC are as per the approved specifications.

While deliberating on the issue of the Explosive Department binding people to lease their properties particularly Oil Marketing Companies (OMCs) for business. The spokesperson of the Explosive Department told the committee that there is no such binding on an individual and the department only grants licence for petrol pumps to OMCs.

The committee considered the public petition on the issue of meter tampering and overbilling. The committee directed that the services of an independent third party should be hired to help the regulator and the companies to ensure authenticity and integrity of the detection of theft through scientific means.

Published in Dawn, May 31st, 2022

 

[shortbread]

What prevents the boot licker Shehbaz Shareef from getting it from Iran instead of running around with a begging bowl to IMF?
Why increase the petrol price when he can get it cheaper from Iran? You tell me.

International sanctions! Plus getting a small percentage of the crude requirements will not reduce the overall crude bucket. It does not work like that.

Also what we need to understand is that, how does one pay for this? Iran's state is such that it wants money when it sells product, how do you route millions to a sanctioned country. Pakistan on the other hand leverages credit when importing fuel and the Middle East players have been the most accommodative.

The govt. can instead turn a blind eye towards illegal across the border fuel smuggling/sales.

 

[Kriketer]

) 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

Such drama you are. I clearly recall you blaming Imran for oil hike and solely blamed him for inflation. Lying runs deep with PDM fans, no surprise.... quality equally shared by their dishonest choor lying bunch leaders. Have some shame and accept the blunder

 

[Clueless]

And within those 45 days, he made sure to cripple the NAB and issue an NRO to his family and friends.

Do you have anything to actually defend IK with substance?
Sharif, gets 10 goals scored against him but IK is also down with atleast 9 goals.

None of your leaders in the last 20 years had any sort of vision, and the result is clear for the world to see.
Pakistan has been left behind by India and Bangladesh in literally all parameters. SL got knocked out by covid since it was too dependent on Tourism, otherwise they were also ahead.

South Asia is the poorest area of the world just ahead of Africa, and even in that Pakistan fell behind.
Pakistan is one of the 2 countries where polio still exists, the other being Afghanistan. Did IK sort that?
IK an ATG of sports, what has happened to sports in Pakistan under IK? Nothing in Olympics, nothing in hockey, cricket barely surviving thanks only PSL.

 

[gkb101277867]

A few rumours going round that the fuel price will increase by another roughly 30 rupees per litre within the next week. Anyone heard similar?

 

[mazkhan]

There are alternatives its called cips and spfs

But that would mean the elite being sanctioned , their yashian in west finished and losing their assets abroad.

So country will always be held hostage by the elite and the slave drivers the barons of textile industry which runs the modern equivalent of cotton plantations and cheap labour to produce cheap products and export to the eu. Alongwith another of our main exports which is human slaves to work in the middleast basically the modern form of human trafficking and slavery modern equivalent of how Africans were taken over the Atlantic to serve masters economy and toil in the sun. That's what out country is underwear weavers and humans sent to gcc to work in 50 Celsius sun and have their passports held by some sheikh .

 

[mazkhan]

A few rumours going round that the fuel price will increase by another roughly 30 rupees per litre within the next week. Anyone heard similar?

So ik was ousted and the imf west and gcc are still punishing us, didn't they say all will be forgiven so how come these imported crooks can't get any respite from master

 

[Bewal Express]

Brent Crude was up to $120 yesterday and dropped back to $116. Imported govt will have to make and keep pushing up prices.

 

[MenInG]

Finance Minister Miftah Ismail on Thursday announced that the federal government has decided to raise the prices of all petroleum products barring one by another Rs30 — just a week after making a similar increase.

The new prices will come into effect from midnight tonight, the minister said while addressing a press conference in Islamabad.

After the latest round of hike, petrol will be priced at Rs209.86, diesel at Rs204.15, kerosene oil at Rs181.94 and light diesel at Rs178.31. Only kerosene oil's price was hiked by less than Rs30.

"The government is still facing a loss of around Rs9 in petrol despite a hike of Rs30 as we are not collecting any tax on the fuel," the minister added.

Ismail said the government was holding talks with the International Monetary Fund (IMF) on a daily basis, adding "we cannot accept all their demands but there are certain points that we have to agree to."

However, Ismail said the government would ensure stability in prices of sugar and wheat at Rs70 per kg and Rs40 per kg respectively at utility stores countrywide.

He insisted the subsidy on petroleum products announced by ex-premier Imran Khan had to be withdrawn to avert financial losses.

"Irrespective of what the IMF says, the government cannot sell petrol and diesel in a loss."

The minister said the government was "willing" to import oil [from Russia], provided "it does not come with sanctions".

The price hikes come 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.

Meanwhile, the opposition leaders hit out at the government for taking the prices of petroleum products to a new high, saying the PML-N-led government was struggling to manage the economy.

Former information minister Fawad Chaudhry said the fresh hike in petrol rates would be a "death of the middle-class from the country".

Ex-planning minister Asad Umar said he saw the "reflection of slavery and not the finance minister of Pakistan at a press conference today".

Jamaat-i-Islami cheif Sirajul Haq announced his party would begin a "public movement" from June 11 against price hikes.

DAWN

 

[Kianig89]

PDM mafia and their cronies should be spanked and lashed wherever found this is complete massacre of general public shame on all the mir jaffars and vo kaun tha?

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Imported govt has increased petroleum prices by 40% or Rs 60 per litre.This will increase burden on the public by Rs 900 bn & price hike in basic necessities. Plus, the Rs 8 increase in electricity price will put entire country into shock.Expect inflation by 30% highest in 75 yrs</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1532413824804200448?ref_src=twsrc%5Etfw">June 2, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[MenInG]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Our govt sustained pressure of Covid & gave Rs 1200 bn worth economic package. This yr alone we reduced sales tax to zero percent & additionally provided Rs 466 bn energy subsidies to protect our public. For us our priority has always been our people.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1532413829497655296?ref_src=twsrc%5Etfw">June 2, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Kianig89]

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">Our govt sustained pressure of Covid & gave Rs 1200 bn worth economic package. This yr alone we reduced sales tax to zero percent & additionally provided Rs 466 bn energy subsidies to protect our public. For us our priority has always been our people.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1532413829497655296?ref_src=twsrc%5Etfw">June 2, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Yes Sir we understand and respect you but they are Zar Baba and 40 thieves, the money launderer brother of famous absconder who is father of certified fraudster Ms safdar they have zero empathy with local public

 

[Bewal Express]

And here I was expecting a cut from the imports.

 

[cric_man]

And no one talks of government taking austerity measures.

All the perks to judges bereaucrats / MNAs should be nullified. They burn thousands of litres of petrol for personal usage. That is just the start.

 

[Extra_Cover]

This is insane. Another Rs 30 increase in petrol will cripple our poor. This is madness and Shahbaz will show up on TV giving away Rs 2000 per family which is a joke.

Imagine a guy earning Rs 50,000 who pays Rs 10,000 on fuel. Let's assume this guy has rent, food, electricity, school and other necessary bills after which his net takeaway is Rs 5,000. A 40% hike in petrol will basically destroy this guy's household as he was earning hand to mouth anyway and now with fuel prices going up its likely that food prices will also increase across the board. The poor families simply put are getting destroyed.

The least Shahbaz and co. can do immediately is to take away fuel subsidies from every government employee. I fully expect PDM to action this immediately now.

 

[MenInG]

KARACHI: Protests have broken out in Karachi, triggered by a sharp increase in prices of petroleum products, ARY News reported on Thursday.

According to details, citizens have attacked a petrol pump near Purani Sabzi Mandi in Karachi’s Central District over the non-supply of petrol.

The angry citizens pelted stones and vandalized the pump after it stopped supplying petrol. The protest was also being held on Nagan Chowrangi.

Meanwhile, citizens in Larkana are also protesting against increase in petrol price. The angry citizens have set fire to tires at Jinnah Bagh Chowk in Larkana.

It is pertinent to mention here that the federal government has increased the prices of petroleum products by Rs30 per litre, with the hike set to go into effect at midnight tonight.

The development was announced by Finance Minister Miftah Ismail while addressing a press conference in Islamabad. After the hike, the price of petrol will be at Rs209.86, diesel at Rs204.15, and kerosene oil at Rs181.56.

Later, former Prime Minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan announced to stage ‘peaceful’ protest tomorrow after Friday prayers against the hike in petrol prices.

Taking to Twitter, the former premier said: “I want everyone to come out and protest peacefully after [Friday] prayers tomorrow against this Imported [government’s] anti-people policies of massive price hikes to crush the public and wreak economic havoc.”

Despite tall claims, the coalition government comprising PPP, MQM-P and PML-N as main partners hasn’t managed to bring down the prices of essential commodities and have instead raised prices of petrol and electricity.

ARY

 

[MenInG]

Sharam.

==

<blockquote class="twitter-tweet"><p lang="ur" dir="rtl">ایک ہفتے میں پٹرول کی قیمت میں 60روپے فی لیٹر اضافے پر <br>احسن اقبال کی مٹھی مٹھی چھترول ۔<br>معجزہ یہ ہوا کہ یہ سب کُچھ جیو پر ہوا<a href="https://twitter.com/hashtag/%D8%A7%D9%85%D9%BE%D9%88%D8%B1%D9%B9%DA%88_%D8%AD%DA%A9%D9%88%D9%85%D8%AA_%D9%86%D8%A7%D9%85%D9%86%D8%B8%D9%88%D8%B1?src=hash&ref_src=twsrc%5Etfw">#امپورٹڈ_حکومت_نامنظور</a> <a href="https://t.co/Xy9fG2vpNc">pic.twitter.com/Xy9fG2vpNc</a></p>— S͜͡Yᗴᗪ B͜͡ᑌKᕼᗩᖇI (@LalBukhari) <a href="https://twitter.com/LalBukhari/status/1532438811094962198?ref_src=twsrc%5Etfw">June 2, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[mazkhan]

The crooks are gonna push us back to grandads days like how the old people lived wearing lungis and no shoes in pinds foraging for food from trees bushes and drinking water from ponds.

 

[MenInG]

ISLAMABAD: Former information minister Fawad Chauhdry Friday said that Karachiites should protest outside the offices of MQM-P — an ally in the ruling coalition — against the hike in petrol prices.

The PTI leader took to his official Twitter handle to criticise the increase in the prices of petroleum products, asking the people why are they damaging petrol pumps in protest instead they should direct their anger toward MQM-P.

“Why are the people of Karachi damaging petrol pumps? You should protest in front of the offices of MQM-P with whose help and support this inflation came,” he tweeted.

Fawad Chauhdry said that the people of Pakistan and Karachi are paying the price of free petrol for Khalid Maqbool Siddiqui, Aminul Haq and Faisal Sabzwari — ministers in the Shahbaz Sharif-led government.

On Thursday, the government increased the price of petrol by Rs30 per litre, which would now be sold at Rs209.86 instead of Rs179.86 from today (June 3).

Likewise, the per litre price of diesel had been enhanced by Rs30 from Rs174.15 to Rs 204.15; light diesel oil by Rs 30 from Rs 148.31 to Rs.178.30, and kerosene oil by Rs26.38 from Rs155.56 to Rs181.94.

Announcing the decision, Federal Minister for Finance and Revenue Miftah Ismail said the increase was necessary and in line with the agreement signed by the previous government with the International Monetary Fund (IMF).

The minister said it was an inevitable decision as the government was also bearing the loss of around Rs91 billion due to the provision of subsidy on the petroleum products as per the rates of May 31.

As the oil prices had further increased in the international market since May 31, the loss would amount to around Rs130 billion and put a further burden on the national exchequer.

“I understand that it will further raise inflation, but I want to inform the people that it was inevitable as the government has to make an agreement with the IMF.”

https://npaper.pk/2022/06/03/petrol...t-outside-mqm-ps-offices-says-fawad-chauhdry/

 

[KingKhanWC]

Anyone who believes this is for the benefit of Pakistan, has no clue or is simply a supporter of crooks.

Imagine how poor who drive Riskshaws or the businesses which rely on good travelling from other parts are feeling right now.

Of course the imports,chors and their corrupt supporters will feel little until the day comes for justice.

 

[Varun]

Is the price of 1 litre of petrol in Pakistan 179 PKR = ~70 INR?

That's still Rs. 30+ cheaper than India.

 

[Mamoon]

They are raising prices just like the PTI government. Why were PTI supporters defending/justifying the PTI government’s decision to raise prices but are criticizing now and showing fake empathy with the poor?

 

[MenInG]

 

[MenInG]

Doing a great job this lot.

 

[Mamoon]

Doing a great job this lot.

Will you please quote Imran’s tweets from 2013-2017 regarding petrol price hikes and then look at the price hikes imposed by him from 2018-2022? Of course you won’t.

 

[Extra_Cover]

Sharam.

==

<blockquote class="twitter-tweet"><p lang="ur" dir="rtl">ایک ہفتے میں پٹرول کی قیمت میں 60روپے فی لیٹر اضافے پر <br>احسن اقبال کی مٹھی مٹھی چھترول ۔<br>معجزہ یہ ہوا کہ یہ سب کُچھ جیو پر ہوا<a href="https://twitter.com/hashtag/%D8%A7%D9%85%D9%BE%D9%88%D8%B1%D9%B9%DA%88_%D8%AD%DA%A9%D9%88%D9%85%D8%AA_%D9%86%D8%A7%D9%85%D9%86%D8%B8%D9%88%D8%B1?src=hash&ref_src=twsrc%5Etfw">#امپورٹڈ_حکومت_نامنظور</a> <a href="https://t.co/Xy9fG2vpNc">pic.twitter.com/Xy9fG2vpNc</a></p>— S͜͡Yᗴᗪ B͜͡ᑌKᕼᗩᖇI (@LalBukhari) <a href="https://twitter.com/LalBukhari/status/1532438811094962198?ref_src=twsrc%5Etfw">June 2, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

If hypocrisy has a face then this is it.

 

[MenInG]

Will you please quote Imran’s tweets from 2013-2017 regarding petrol price hikes and then look at the price hikes imposed by him from 2018-2022? Of course you won’t.

You know why? Because he didnt "overthrow" a government based on that agenda.

And he spend 3.5 years in Govt where he faced God knows what issues including Covid - this lot have destroyed it in weeks.

Fact is that they only wanted power to clear out the legal cases against them - that is their only priority.

 

[Mamoon]

You know why? Because he didnt "overthrow" a government based on that agenda.

And he spend 3.5 years in Govt where he faced God knows what issues including Covid - this lot have destroyed it in weeks.

Fact is that they only wanted power to clear out the legal cases against them - that is their only priority.

The only issue in his government was his own incompetence and the incompetence of his finance ministers. He changed finance minister every 6 months which exposed the lack of planning and vision.

The pandemic was a convenient excuse - it allowed the government to hide their failures. The reality is that the economy was in free-fall before the pandemic hit the country in Jan-Feb 2020.

PTI’s performance from August 2018 to Dec 2019 was disastrous, so the pandemic excuse does not hold up. It is just one of the lies sold by Imran Khan and lapped up his supporters.

 

[Xoib]

The only issue in his government was his own incompetence and the incompetence of his finance ministers. He changed finance minister every 6 months which exposed the lack of planning and vision.

The pandemic was a convenient excuse - it allowed the government to hide their failures. The reality is that the economy was in free-fall before the pandemic hit the country in Jan-Feb 2020.

PTI’s performance from August 2018 to Dec 2019 was disastrous, so the pandemic excuse does not hold up. It is just one of the lies sold by Imran Khan and lapped up his supporters.

I asked Major I will repeat the same question to you.

PDM attacks IK for high prices and does this mehagai mukao march now they come to power and raise prices and attacks PTI again saying they have to increase the prices since last government kept the prices artificially low so they have to make the tough call for people how does this even make sense maybe with your high IQ you will explain better.

 

[Bewal Express]

The only issue in his government was his own incompetence and the incompetence of his finance ministers. He changed finance minister every 6 months which exposed the lack of planning and vision.

The pandemic was a convenient excuse - it allowed the government to hide their failures. The reality is that the economy was in free-fall before the pandemic hit the country in Jan-Feb 2020.

PTI’s performance from August 2018 to Dec 2019 was disastrous, so the pandemic excuse does not hold up. It is just one of the lies sold by Imran Khan and lapped up his supporters.

The PTI has shown performances for the ages. Two years of 6% growth, exports up by a 1/3rd and on course(were) to double, tax collection up by 60%, imports down, CAD in surplus, Dams being built, LSM up by record levels. And all crashed in 8 weeks with crooks on bail running the economy like a goat herder would. All this during covid which we handled thanks Kaptaan better than 99% of other countries.

 

[Bewal Express]

The only issue in his government was his own incompetence and the incompetence of his finance ministers. He changed finance minister every 6 months which exposed the lack of planning and vision.

The pandemic was a convenient excuse - it allowed the government to hide their failures. The reality is that the economy was in free-fall before the pandemic hit the country in Jan-Feb 2020.

PTI’s performance from August 2018 to Dec 2019 was disastrous, so the pandemic excuse does not hold up. It is just one of the lies sold by Imran Khan and lapped up his supporters.

BTW
You have a short memory. During the pandemic you and your ilk wanted lockdowns and starvation of the poor. Kaptaan went against all and saved the poor. We don't forget. Remember how the Sindh govt lied about its relief

 

[finalfantasy7]

China and Europe buys from Iran and does so the "strong independent foreign policy driven country" India.

yeh but pakistan is a puppet to USA,

 

[MenInG]

State Minister for Petroleum Musadik Malik on Friday said raising the fuel prices by Rs30 was a “difficult decision”, but taken to “save the country from bankruptcy and destruction” a day after the government instituted the measure to revive a stalled IMF bailout programme.

“We made a difficult decision to save the country from destruction and bankruptcy and to bring stability,” Malik said at a press conference alongside PML-N senior vice president Shahid Khaqan Abbasi.

The presser came after the prices of petroleum and diesel hit record highs in the wake of the government's raising prices for a second time in a week — cumulatively by Rs60, leading to sporadic protests in various cities.

Another government mouthpiece, Daniyal Aziz, called on the public to be patient in a separate press conference.

"In a few months, you will see stability. God willing, there will be stability — there will be some pain also," Malik said. "Some of the pain the federal government has shouldered. I believe the government has given about Rs250 billion in subsidies."

He added that some of "those who have been blessed" would also have to bear the pain. "We are trying as much as possible to not burden the poor, for whom we announced Rs2000 per family to weather this crisis."

He reiterated that it was a difficult decision, but it was made to save the country from destruction, which he blamed on the PTI regime.

Malik said: "They had contracted to the IMF that they would raise petroleum prices. They had committed that they would also apply petroleum levy and sales tax in addition to raising prices.

"So when a country makes a sovereign commitment to an international organisation, and before leaving, its selected PM tears up commitments like how he did with the Constitution, [it begs the question] what did they want to do? I'll tell you what they wanted to do. They wanted to bankrupt and destroy the country."

But he mentioned that the markets were responding to the difficult measures, and conceded that his comments did not mean the pain felt by the commonfolk was any less.

"You have also seen the stock market, and the rupee stability. The markets have responded positively and the rupee is increasing and the dollar is reducing. This was a very difficult decision but it had to be done."

He said in a few months it would be evident that the government was taking people to the place that the PML-N has always taken them: "to progress".

'Unfortunate that PML-N has to take these tough decisions'

When he spoke, Abbasi said it was "unfortunate that it is always the PML-N that has to take these decisions", but not taking them would be unfair to the nation and country. He said the subsidies were unsustainable.

He said the subsidy had reached Rs125 billion that the government was paying after taking additional loans. "Pakistan's entire federal government is run on Rs520 billion, our defence expenditure is Rs1,700 billion, the subsidy reached Rs250 billion."

He pilloried the PTI regime for running the country on "lies and false promises". He said it is not possible to sell fuel at a lower price than the buying price.

If the prices were not raised, he said, the economy would have "drowned" and the "storm of inflation" that people would have to face would be unimaginable.

He then cautioned that it would take a long time and "we all will have to bear immense pain to take the country back to where the PML-N had left it in 2018".

Dawn

 

[Bewal Express]

State Minister for Petroleum Musadik Malik on Friday said raising the fuel prices by Rs30 was a “difficult decision”, but taken to “save the country from bankruptcy and destruction” a day after the government instituted the measure to revive a stalled IMF bailout programme.

“We made a difficult decision to save the country from destruction and bankruptcy and to bring stability,” Malik said at a press conference alongside PML-N senior vice president Shahid Khaqan Abbasi.

The presser came after the prices of petroleum and diesel hit record highs in the wake of the government's raising prices for a second time in a week — cumulatively by Rs60, leading to sporadic protests in various cities.

Another government mouthpiece, Daniyal Aziz, called on the public to be patient in a separate press conference.

"In a few months, you will see stability. God willing, there will be stability — there will be some pain also," Malik said. "Some of the pain the federal government has shouldered. I believe the government has given about Rs250 billion in subsidies."

He added that some of "those who have been blessed" would also have to bear the pain. "We are trying as much as possible to not burden the poor, for whom we announced Rs2000 per family to weather this crisis."

He reiterated that it was a difficult decision, but it was made to save the country from destruction, which he blamed on the PTI regime.

Malik said: "They had contracted to the IMF that they would raise petroleum prices. They had committed that they would also apply petroleum levy and sales tax in addition to raising prices.

"So when a country makes a sovereign commitment to an international organisation, and before leaving, its selected PM tears up commitments like how he did with the Constitution, [it begs the question] what did they want to do? I'll tell you what they wanted to do. They wanted to bankrupt and destroy the country."

But he mentioned that the markets were responding to the difficult measures, and conceded that his comments did not mean the pain felt by the commonfolk was any less.

"You have also seen the stock market, and the rupee stability. The markets have responded positively and the rupee is increasing and the dollar is reducing. This was a very difficult decision but it had to be done."

He said in a few months it would be evident that the government was taking people to the place that the PML-N has always taken them: "to progress".

'Unfortunate that PML-N has to take these tough decisions'

When he spoke, Abbasi said it was "unfortunate that it is always the PML-N that has to take these decisions", but not taking them would be unfair to the nation and country. He said the subsidies were unsustainable.

He said the subsidy had reached Rs125 billion that the government was paying after taking additional loans. "Pakistan's entire federal government is run on Rs520 billion, our defence expenditure is Rs1,700 billion, the subsidy reached Rs250 billion."

He pilloried the PTI regime for running the country on "lies and false promises". He said it is not possible to sell fuel at a lower price than the buying price.

If the prices were not raised, he said, the economy would have "drowned" and the "storm of inflation" that people would have to face would be unimaginable.

He then cautioned that it would take a long time and "we all will have to bear immense pain to take the country back to where the PML-N had left it in 2018".

Dawn

But they promised that they would be cut to 70rps. Why the lies?

 

[Kianig89]

Musaddak viagra Malik is the minister for petroleum the irony another one of clown from pmln ranks

 

[Bewal Express]

Musaddak viagra Malik is the minister for petroleum the irony another one of clown from pmln ranks

It will be much harder for him to make the decisions

 

[Kianig89]

It will be much harder for him to make the decisions

He should have had a different portfolio may be Minister for Population control anyways he is an inferior version of Ephiderine Abbasi

 

[Savak]

We are now seeing grotesque inflation never seen before in Pakistan's history under the PDM govt. It is now blatantly clear and obvious that the reason why they came to govt was to quash their cases, to manipulate and facilitate rigging of elections down the line and to install their men in key positions of the govt, they have no answers and no solutions to Pakistan's economic problems and now even the Upper Middle Class in Pakistan will be pushed below the Poverty Line soon. It will now cost Rs 12,000 to fill up a car gas tank. Some of my friends in Pakistan who were once considered well to do were telling me they are now trying all sorts of things to eliminate using their cars and to rely on public transport or walking to distances and they are trying to find other ways to earn extra income.

Its even more telling to see notorious lifafa journalists like Mansoor Ali Khan, Saleem Saifi, Hamid Mir, Najam Sethi, Asma Shirazi and co being absolutely silent on the inflation prevailing in the country under just one month of the PDM govt given that they bashed IK and PTI every day non stop for this.

This is why people want to leave the country for good.

 

[mazkhan]

Showbaaza wants people to adopt simplicity so that's stale roti , maybe with an onion or water boiled with a pinch of chilli powder and to travel around on a donkey and then feed it a turnip and burn its crap as fuel .

 

[Savak]

Am hearing from many people travelling to Pakistan that all of their foreign bought goods are being confiscated i.e. chocolates, clothes, accessories e.t.c.

 

[mazkhan]

Yes the crook police are confiscating they confiscated washing powder , razors etc items people are bringing from UK. They also won't accept bribes since they can make more money flogging the loot

 

[Vatta]

Always a tweet.

 

[MenInG]

Owing to the recent hike in petroleum prices, airlines and railways are mulling over to increase the fares to offset their rising expenditures on fuel.

According to sources, the Pakistan Railways (PR) is bearing the loss of Rs20 million daily due to a rise in the price of diesel.

The authorities have forwarded recommendations for the increase in fares by 15 to 20 per cent.

Each year, the state entity buys diesel worth Rs20 billion. However, following the surge in prices, the annual diesel expenditure of the railways is anticipated to reach 25 billion.

The authorities are also deliberating on the proposal to increase the stop-to-stop fare, sources added.

Meanwhile, national and private airlines are also likely to increase fares for both domestic and international flights, sources revealed, adding that the airlines are also bearing the brunt of the petroleum prices that have whizzed past records, with a noticeable decrease in the number of people choosing the air travel.

Sources said that the steady increase in the fuel prices, which many dread are likely to soar skywards in the coming weeks, will further put strain on the financial expenditure of the national and private airlines.

However, the increase in the prices will hit the passengers flying to foreign shores harder.

It is pertinent to note that the transport operators had last week raised fares by 20 per cent on all inter-city and intra-city routes across Punjab.

The government on Thursday announced that it had decided to raise the prices of all petroleum products barring one by another Rs30.

After the latest round of hike, petrol will be priced at Rs209.86, diesel at Rs204.15, kerosene oil at Rs181.94 and light diesel at Rs178.31. Only kerosene oil's price was hiked by less than Rs30.

Express Tribune

 

[MenInG]

The Oil and Gas Regulatory Authority (OGRA) has raised gas prices up to 45 percent in order to meet the revenue shortfall of gas utilities.

The oil and gas regulator has allowed Sui Northern Gas Pipeline Limited (SNGPL) to increase prices by up to 45 percent. The gas utility had demanded a 198 percent increase in gas prices.

OGRA said that the financial impact of the previous year’s shortfall of Rs264.8 billion that accounted for Rs720.20 per mmbtu had been referred to the federal government for an appropriate policy decision and is therefore not made part of the instant determination.

It also allowed Sui Southern Gas Company (SSGC) to increase gas prices by 44 percent in order to meet revenue shortfall for the year 2022-23. The gas company had called for an increase of 45 percent.

Through this determination, OGRA has requested the federal government for advice on category-wise sale prices.

Any revision as advised by the federal government shall be accordingly notified by OGRA. Till such time, the existing category-wise natural gas sale prices shall continue to prevail.

The hike in gas price will help SNGPL meet its Rs260.9 billion revenue requirement. SSGC will recover also Rs285 billion from gas consumers through revised gas prices.

It is worth mentioning here that this development follows a surge in the prices of petroleum products and the hike in electricity tariff.

https://tribune.com.pk/story/2359990/ogra-raises-gas-prices-by-45-per-cent

 

[MenInG]

PTI chairman and deposed premier Imran Khan on Saturday challenged incumbent Prime Minister Shehbaz Sharif to fix the economy now that he had “conspired” to oust his government from power.

“The US, Israel and India conspired together to bring ‘boot-polishing’ Shehbaz Sharif to power,” he said while addressing a rally at Government Polytechnic College in Upper Dir.

“Shehbaz was bought into power not because he is intelligent, but because he would obey all of their orders, the first of which was a price hike in petrol as ordained by the IMF [International Monetary Fund],” the former premier added.

He claimed that the IMF had also pressured his government to end subsidies on fuel and energy but it resisted it. “In fact, we decreased fuel prices by Rs10.”

He added that the present government had increased fuel prices by Rs60 and gas rates by 40%.

The PTI chief said his government wanted to save the people from the global price hike and aimed to get money from elsewhere to offer respite from inflation.

“The prices of all commodities increase when petrol and electricity are more expensive.”

Imran further claimed that his government wanted to increase the wealth of the country and that the average income increased from Rs16,180 to Rs26,300 during his three-year tenure.

“We tried to increase the country’s wealth and subsequently increase tax to reduce the burden of inflation.”

The ex-premier claimed that his life and death was Pakistan, and he refuse to bow down before anyone but the Almighty.

Imran maintained that he was grateful to the Almighty that the nation stood with him, and not with the “imported government.”

“The whole country rejects the imported government. A conspiracy was hatched against my government but I will not stop fighting against thieves, The PTI’s manifesto is to implement Pakistan resolution. That is to make it an Islamic state.”

The PTI chief claimed that the army had admitted that there was a “foreign conspiracy” in the National Security Council meeting but it became neutral. “However, the nation is not neutral and it wants fresh elections.”

He declared that the only way to free Pakistan from economic ruin and enslavement was an election wherein the people could decide which government they wanted in power.

The PTI chief further alleged that PM Shehbaz had only come into power to evade punishment in his ongoing corruption cases.

The PTI chief claimed that there were cases concerning frauds of Rs16 billion in the Federal Investigation Agency (FIA) and Rs8 billion in the National Accountability Bureau (NAB) against PM Shehbaz and his family.

“The day he [Shehbaz] was sworn in as prime minister, he and his son were both to be indicted under the FIA case. Their entire reason to come into power was to escape punishment.”

Express Tribune

 

[Firebat]

Long queues at Islamabad, Rawalpindi petrol pumps after oil companies stop supply

ISLAMABAD/RAWALPINDI: Long queues have lined up outside petrol pumps in twin cities — Islamabad and Rawalpindi — after oil marketing companies (OMCs) stopped the supply of the essential commodity.

A representative of the petrol pump association told Geo News that the supply has been stopped and tankers have lined up outside oil depots for refilling.

The official asked the OMCs to restart the supply of petroleum products as if the reserves of the petrol pumps run out, then businesses will be severely affected.

"We are in talks with oil supply companies regarding the matter," he added.

Meanwhile, Chairman Pakistan Petroleum Dealers Association (PPDA) Abdul Sami Khan told Geo.tv that the reserves of the pumps are running shortly after Finance Minister Miftah Ismail announced another probable hike in petrol prices.

He maintained that the supply to the petrol pumps had not stopped yet, but due to the rush at the filling stations, their reserves might be exhausted soon.

Earlier in the day, the finance minister said the price of petroleum products would increase further in the country after a massive hike of Rs60 in the last 10 days.

In his address to the one-day long pre-budget business conference, Ismail said that had the government taken decisions in line with ex-prime minister Imran Khan and former finance minister Shaukat Tarin's deal with the International Monetary Fund (IMF), the price of petrol would have stood at Rs300 per litre.

Moreover, according to The News, the government cannot just stop at ending subsidies as it has to impose taxes on petroleum products.

"The IMF has asked for 100% withdrawal of subsidy on POL products. Once the subsidy is over, then the government will have to impose taxes and petroleum levy," the publication reported, adding that there is still a subsidy of Rs9.32 per litre on petrol and Rs23.05 per litre on diesel.

https://www.geo.tv/latest/421193-lo...-petrol-pumps-after-oil-companies-stop-supply

 

[Kianig89]

PML N PPP and all cronies supporters hor choppo

 

[MenInG]

Finance Minister Miftah Ismail has rubbished reports that the government was increasing fuel prices today, saying that in the pre-budget seminar he did not even speak about the petroleum prices.

“Channels running these tickers are doing a disservice to their viewers. There will be no increase in prices today and there is no summary or plan to raise prices,” he wrote on his official Twitter handle on Tuesday.

His statement comes amid reports of another hike in the fuel prices just a few days after the government increased the petroleum product prices by Rs30 per litre — second hike in a week.

Information Minister Marriyum Aurangzeb also termed the speculation of increase in prices of petroleum products as “absolutely false”. “The government has not taken any decision to increase the price of petrol and diesel further. The people and media are requested not to listen to rumours. There is no shortage of petroleum products in the country. Avoid spreading rumours,” she wrote on her Twitter handle.

In the pre-budget seminar earlier today, Miftah predicted that country's GDP will grow by 5%-6% and the government would control the high rate of inflation.

He also revealed that the government has prepared a progressive fiscal budget, with the deficit reduced to below 5%.

The minister further stated that he was "very confident" about the deal with the International Monetary Fund (IMF).

“We have taken tough decisions; it is not easy for any prime minister to allow such an increase in fuel prices but we were taking losses. We incurred more than 120 billion rupees in losses per month,” the minister stated.

Express Tribune

 

[Kianig89]

Is petrol becoming an elite commodity with these rates surely a common man won't afford it specially for luxury like going for outing or dining out @240 it will be crazy not to mention the impact it will have on common man

 

[Colorblind Genius]

Is petrol becoming an elite commodity with these rates surely a common man won't afford it specially for luxury like going for outing or dining out @240 it will be crazy not to mention the impact it will have on common man

only the poor of the poorest and weaker of the weakest who can't earn haraam or try not to earn and eat haram will suffer.

The rest will be just fine.
They will simply increase their rate of illegal commissions and bribery demands.

 

[MenInG]

Ministers of Petroleum and Energy lambasted Finance Minister Miftah Ismail after he recommended a further price hike in petroleum and electricity prices in the cabinet’s meeting on Tuesday, ARY News reported.

According to sources, the Finance minister came under fire by Riaz Pirzada who criticized Miftah when he suggested a price hike in petroleum and electricity prices.

Prime Minister Shehbaz Sharif on Tuesday, summoned a meeting of the cabinet to discuss the post-budget scenario of the country where things went south really quickly.

‘The people are already too burdened with inflation, we should not hike the prices further,’ Riaz Prizada said to Miftah Ismail.

Multiple ministers reportedly suggested making adjustments in other fields than increasing the petroleum and electricity prices. Miftah dismissed the suggestion claiming other sectors are already suffering they can not be adjusted to compensate for the petroleum and electricity prices.

The Prime Minister backed Miftah by saying that he does not want to increase the prices but they are compelled to do it. Only I can tell how difficult it is for me to increase the prices, the PM added.

Miftah clarified that the International Moentary Fund (IMF) would not sanction the $3 billion financial relief if we do not hikep petroleum and electricity prices.

ARY

 

[MenInG]

And here we go again....

==

Finance Minister Miftah Ismail on Wednesday announced that the federal government has decided to raise the prices of petroleum products by Rs24 per litre.

The new prices will come into effect from midnight tonight, the minister said while addressing a press conference in Islamabad.

After the hike, petrol will be priced at Rs233.89 after a Rs24.03 hike, diesel at Rs263.31 after a Rs16.31 increase, kerosene oil at Rs211.47 after a Rs29.49 surge and light diesel at Rs 207.47 after an increase of Rs29.16.

Ismail said the government had no choice but to "pass on" the impact of international prices to consumers in Pakistan.

The government has raised the petrol price by more than Rs84 per litre in the last 20 days.

Explaining the reasons behind another hike in prices of petroleum products, the minister said that the international price of petrol was $120 per litre.

"Our country is still facing a loss of Rs24.03 in petrol, Rs59.16 in diesel, Rs29.49 in kerosene oil and Rs29.16 in light diesel oil," he told the press conference.

He said the government was spending Rs120 billion on petrol subsidies. "I have been seeing the country's situation for 30 years, but I've never seen such a situation in terms of inflation."

He also blamed former prime minister Imran Khan for his policies causing "damage" to the national economy.

Ismail said the government was tied by agreements made by the PTI government with the International Monetary Fund (IMF).

He acknowledged that the middle-class will also suffer from the petrol price hike, adding the government would take measures to contain the impact of the price hike on people.

"We have taken difficult decisions before and we will take in the future as well to protect the country from financial difficulties," the minister said.

DAWN

 

[Hextro]

PDM supporters complained 27/7 that PTI has made fuel unaffordable for people, where are those supporters now? Ah yes I remember, international prices are sky high which forced these incompetent criminals to increase prices. Were the prices not sky high when PTI was in power?

Rs 233.8 is the highest petrol price in the history of Pakistan and the last price was also the highest in Pakistan's history. There'll probably be another 2 price hikes within the next few months because the IMF wants the government to generate a lot of tax revenue from fuel.

During the last 20 days in Pakistan, petrol price has increased by Rs 84 per liter while Diesel price has increased by Rs 115 per liter.

 

[Hextro]

And here we go again....

==

Finance Minister Miftah Ismail on Wednesday announced that the federal government has decided to raise the prices of petroleum products by Rs24 per litre.

The new prices will come into effect from midnight tonight, the minister said while addressing a press conference in Islamabad.

After the hike, petrol will be priced at Rs233.89 after a Rs24.03 hike, diesel at Rs263.31 after a Rs16.31 increase, kerosene oil at Rs211.47 after a Rs29.49 surge and light diesel at Rs 207.47 after an increase of Rs29.16.

Ismail said the government had no choice but to "pass on" the impact of international prices to consumers in Pakistan.

The government has raised the petrol price by more than Rs84 per litre in the last 20 days.

Explaining the reasons behind another hike in prices of petroleum products, the minister said that the international price of petrol was $120 per litre.

"Our country is still facing a loss of Rs24.03 in petrol, Rs59.16 in diesel, Rs29.49 in kerosene oil and Rs29.16 in light diesel oil," he told the press conference.

He said the government was spending Rs120 billion on petrol subsidies. "I have been seeing the country's situation for 30 years, but I've never seen such a situation in terms of inflation."

He also blamed former prime minister Imran Khan for his policies causing "damage" to the national economy.

Ismail said the government was tied by agreements made by the PTI government with the International Monetary Fund (IMF).

He acknowledged that the middle-class will also suffer from the petrol price hike, adding the government would take measures to contain the impact of the price hike on people.

"We have taken difficult decisions before and we will take in the future as well to protect the country from financial difficulties," the minister said.

DAWN

Expect more hikes in the future.

 

[MenInG]