After the government increased petrol prices for the second time in a week, reactions poured from around the country. The journalists also took to Twitter, calling the move ‘unacceptable and brutal’.
Finance Minister Miftah Ismail on Thursday announced the government’s decision to increase the price of petroleum products by Rs30 per liter which is the second consecutive hike in a week hike, a move to renew a $6 billion loan program agreed with the International Monetary Fund (IMF).
After the latest increase in prices, petrol will be priced at Rs209.86, diesel at Rs204.15, kerosene oil at Rs181.94 and light diesel at Rs178.31.
The finance minister made the announcement while talking to a press conference, he said, “Price of petrol will be Rs209.86 per liter from Rs 179.86 per liter.” The new prices were to come into effect from midnight, June 2.
The government was suffering a loss of Rs9 per liter on the price of petrol and was not charging consumers a single rupee of tax on the product, he said adding that the price of diesel would go up to Rs204.15 per liter, as the government bears a loss of Rs23 per liter on the price of diesel.
As the minister acknowledged that the surge in prices of petroleum products would cause inflation to rise in the country, he highlighted that the prices of petrol were “extremely high” around the world.
Veteran journalist Mubashir Zaidi labelled the increase in prices as the “mother of all bombs”, adding that the public would be “strangled” by it.
“Rise in petroleum price is unacceptable and brutal”, said senior Journalist Mazhar Abbas in a tweet.
While others slammed the government, senior journalist Raza Ahmad Rumi said there was no other choice for the government except to take “tough decisions”.
Ahmed Jamal Pirzada, a Bristol University economist also said the price increases were “unavoidable adjustments”
Imran calls out govt over fuel hike and Moody’s downgrading
“Imported govt has increased petroleum prices by 40% or Rs60 per liter. This will increase the burden on the public by Rs900bn & price hike in basic necessities. The Rs8 increase in electricity price will put the entire country into shock. Expect inflation by 30% highest in 75 yrs,” he said in a series of late-night tweets after the rise in petrol prices and Moody’s downgrading of Pakistan’s outlook from stable to negative.
He asked the public to come to the streets and administer a peaceful protest after the Jummah prayer “against this Imported govt’s anti-people policies of massive price hikes to crush the public & wreak economic havoc in the country.”