This just came in, Mr Ishaq Dar the Finance Minister of Pakistan has announced the petrol and diesel prices in Pakistan for the next 15 days. As per the Finance Minister, the Government of Pakistan is increasing fuel prices. Petrol & diesel prices increased by 20 rupees in Pakistan. Here is what we know so far!
Petrol & Diesel are one of the major imports of Pakistan. As Pakistan is technically a dry country, it has to import most of its required fuel from the Gulf and other oil-producing countries. Pakistan hardly produces 20% of its requirements. Recently, Pakistan was in search of cheaper fuel and tried Russian fuel for the first time. Fuel prices were brought down from 272 to 252 rupees in the past.
Recently however when the Government was expected to lower the fuel prices and keep things in check, they increased it by 20 rupees. This price hike is applicable from today and it seems like a reckless blow by the government. For the last 15 days, fuel prices were not changed and this time they are increased by 20 rupees.
OGRA is the department that regulates fuel prices in Pakistan. As we are a consumer nation and need to have more and more energy resources, the government was also hoping to shift the motorcyclists to electrical power. Electric bikes do not seem to be a better option as compared to regular petrol motorcycles due to poor infrastructure.
As per the Finance Minister, they had to increase the petrol & diesel prices to remain compliant with the new IMF deal and the price hike was inevitable. The general public is advised to avoid unnecessary travel and keep their automobiles in an optimum state to save petrol consumption. What is your take on the new petrol prices, kindly let us know!