Midnight petrol explosion shocks consumers across the country

ISLAMABAD: On Wednesday midnight, the government exploded third petrol bomb, raising diesel price to Rs263.31 per liter and petrol increased to Rs233.89. The government incorporated Rs59.16 per liter increase in price of diesel, Rs24.03 in petrol price while kerosene and light diesel prices were raised by Rs33.12 and Rs25.53 per liter.

Federal Finance Minister Miftah Ismail, Petroleum Minister Musaddaq Malik and other ministers were preparing people and media for third price-hike in petroleum prices by saying the government was not in a position to bear subsidies on petroleum products anymore due to pressure of the IMF for the resumption of loan.

Before raising domestic petroleum prices, Finance Minister Miftah Ismail and State Minister for Petroleum Musaddaq Malik criticised the previous government’s policies which, they said, “deteriorated the country’s economy”.

“Imran Khan had deliberately reduced the prices of petrol by giving subsidies,” Miftah said, adding that the incumbent government was bearing the brunt of those decisions. 

He said that currently, Pakistan, on every litre, was bearing a loss of Rs24.03 on petrol, Rs59.16 diesel, Rs39.49 kerosene oil, and Rs39.16 on light diesel oil.

He said that in May, this loss had gone past Rs120 billion — three times greater than running the expenses of the civil government, which amounts to Rs40 million.

PTI/Consumers reject hike in petrol prices

Reacting to the development, PTI leader Fawad Chaudhry took to Twitter and announced that his party had rejected the hike in petroleum products. 

“We reject this robbery in the middle of the night with all our might,” he wrote. “Increase in petrol prices by this much has broken the middle class. People should take part in the protest against this incompetent government.”

Consumers have also condemned the third time increase in petroleum prices in just 20 days by the new government, led by Prime Minister Shehbaz Sharif.