Pakistan finance minister Ishaq Dar on Sunday (January 29) announced that the prices of petrol and diesel have been hiked by Rs 35, as the South Asian country grapples with the ongoing economic crisis. Addressing a press conference, Dar said that prices of kerosene oil and light diesel oil will be hiked by Rs 18. The prices came into effect at 11 am on Sunday. Taking to Twitter, the finance ministry shared the revised prices after the price hike.
“Govt announced new prices of Petroleum Products with effect from 11.00 hrs, 29 Jan 2023. High Speed Diesel-Rs 262.80 per litre MS Petrol —Rs 249.80 per litre Kerosene Oil -Rs 189.83 per litre Light Diesel Oil – Rs 187 per litre,” the ministry tweeted.
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During Sunday’s press conference, finance minister Dar pointed out that in the last four months (October to Jan 29) the price of petrol was not increased and prices of diesel and kerosene oil were decreased, a report by Dawn said.
The finance minister also told reporters that there was speculation on social media regarding a Rs 50 increase in petrol and diesel prices. “Because of this, we have received reports of artificial shortages in the market,” the finance minister said, the report added.
On Friday, the rumours of a massive hike in petrol prices led to long queues at petrol pumps across Pakistan. Citing local media, a report by news agency IANS said Petrol was available at only 20 per cent of petrol pumps in Gujranwala, while severe shortages were also seen in Rahim Yar Khan, Bahawalpur, Sialkot and Faisalabad
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Meanwhile, former Pakistan Prime Minister Imran Khan took to Twitter to criticise the price hike. “Total mismanagement of our economy by a corrupt & incompetent imported govt has crushed masses & salaried class with latest hike in petrol & diesel prices & Rs33/$ devaluation to Rs262.6/$. Elec & gas price hike & 35% unprecedented inflation expected with Rs200bn mini-budget,” Khan tweeted.
A few days back, the government was mulling lashing the salaries of government employees by 10 per cent across the board. A report by Geo News on Wednesday said that the National Austerity Committee (NAC) constituted by Prime Minister Shehbaz Sharif is also considering cutting down expenditures of ministries and divisions by 15 per cent, reducing the number of federal ministers, ministers of state, and advisers from 78 to 30 while the remaining should work on a pro bono basis.
