The government has enforced a significant increase in petrol and diesel prices, despite former claims of furnishing relief to the public. Petrol prices have seen a massive hike of Rs 26.2 per litre, bringing the new price to Rs 331.38 per litre.
Diesel prices have also surged by Rs17.34 per litre, performing in a new price of Rs329.18 per litre. Within a month, the caretaker government has raised petrol prices by Rs58 per litre and diesel prices by Rs56 per litre. also, the State Bank of Pakistan( SBP) has claimed to gradationally reduce affectation while publicizing the new financial policy.
still, profitable experts have advised of a fresh surge of affectation following the substantial increase in petrol and diesel prices. Last week, the Economic Coordination Committee( ECC) approved an increase in the periphery for petroleum dealers and oil painting marketing companies( OMCs). The caretaker government approved raising the trade periphery of petrol and diesel by Rs3.5 per litre.
This decision was made in an ECC session chaired by Caretaker Finance Minister Shamshad Akhtar before in the month. The government’s decision to raise petroleum prices comes as global commodity prices continue to launch.
The oil painting and Gas Regulatory Authority( OGRA) was anticipated to advertise new prices on September 15, grounded on the average transnational crude oil painting prices. On September 1, the caretaker government had formerly increased petrol prices by Rs14.9 per litre, raising enterprises about rising living costs for citizens.