As per Ary News, OGRA has submitted the summary of new petrol prices in Pakistan to Prime Minister Mr. Shahbaz Sharif. New petrol prices are to be decided tomorrow. Here is what we know so far.
OGRA is a petroleum product authority that ensures the availability and sale of petroleum products. Every 15th of the month, fuel prices are revised and for the past 9 months, It is on an increasing trend. This time however the price increase is huge. OGRA has advised the new petrol price to be 310 pkr and the Diesel price to be 294 pkr.
Since the economic conditions of Pakistan are very fragile and the bail-out package of IMF is bringing more torture than relief. As per the ruling party, this increase is because of the contracts signed by the previous party. On the other hand, the previous ruling party says that this is because of the bad governance and incompetency of the ruling party.
Globally fuel prices have been decreasing by 4$ in February 2023, the prices in Pakistan are increasing and there seems to be no end to this fiasco. The general public is very depressed as they have to provide for their selves and their families on limited incomes while inflation is increasing due to higher fuel prices.
There is no scope for alternative energy and electric vehicles in Pakistan. On top of that, the fuel pump owners stock the fuel before price change and then enjoy a huge profit on the cheaper petrol which they sell at higher prices. Government was also on the hunt for cheaper low quality fuel for motorcycles and auto rickshaws but that too is postponed now. The irony is that Pakistan can import fuel from Iran, We wonder why we don’t!