Reports have informed that the prices of Petroleum products may decrease from May 1, and the government might down the fuel price to liven their diminishing political capital among the masses.
Sources have revealed that the petrol price in Pakistan may go down by Rs. 4.5 per litre, whilst diesel prices may observe a slump of Rs. 6 per litre. if so, that would bring a slight decline in inflation for farmers because transport and agriculture majorly run on diesel.
Earlier, the federal government hiked petrol prices; Finance Minister Ishaq Dar announced an Rs. 10 per liter hike in petrol prices for the next 15 days on. The rationale stated for this petrol price hike is the surge in worldwide petroleum costs and exchange rate fluctuations.
Moreover, the expected relief and government’s plan to charge Rs. 75 extra from privileged class are moving parallel. Suffice to say, the decrease in petrol price wouldn’t be a perfect relief for car owners.
Car Owners to be Charged Rs. 75/L Extra
Despite the earlier assurances given to the international Monetary Fund (IMF) regarding no petrol subsidy scheme for motorcyclists and small vehicle owners, the incumbent government is ready to launch Sasta petrol Scheme. Couple of days ago, the government moved the summary to Economic Coordination Committee (ECC) of federal cabinet for approval.
As per the media reports, the summary was circulated for approval after Shahbaz Sharif okayed it. The summary narrated to collect up to Rs. 75 per liter additional from the consumers, who are already striving to pay a whopping price of Rs. 282/L.
What do you think about the expected decrease in petrol prices in Pakistan? Drop your thoughts in the comments section.
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