Can’t hold more! Petroleum prices to shoot soon Says New Govt
The new Govt of Pakistan has finally said that they are un able to hold fuel prices at the current level any more and they really need to increase the fuel prices. The new Govt stated that the subsidy is becoming a debt instead and the fuel prices should be subjected to the international prices.
Also the new Govt has recently went to IMF and agreed upon many of IMF’s points. IMF is also in favor of increasing fuel prices and removing the subsidy provided by the old Govt. Mr. Miftah Ismail says the government will devise a policy to give relief to motorcyclists. He added that the government will only subsidize petrol for the middle-class motorcycle users, not the elite class with big cars.
This means that the Govt may introduce some low quality fuel (lesser ron rating) and sell it at a cheaper price for motorcyclists. This can be really helpful for common man and motorcycle users. Making sure that only the motorcyclists get the cheap fuel will be another challenge in its own.
The Govt is expected to have a massive price hike in the price of petroleum products this time. Lets hope for the best and hope that the fuel remains affordable!