Govt jacks up fuel prices

By
fraaz
-
14
171

The government on Wednesday notified an increase in petroleum prices, raising petrol price by Rs 0.48 per litre to make it Rs 87.89 per litre, light diesel oil (LDO) by Rs 4.79 to Rs 86.78 per litre and high speed diesel by Rs 4.67 to Rs 98.82 per litre with effect from December 1 (today). The notified increase in the price of rich man’s vehicle fuel, High Octane Blending Component (HOBC), was only Rs 0.06 to make it Rs 106.78 per litre, while the price of kerosene oil has been increased by Rs 3.48 to Rs 89.24.
The government is also likely to increase electricity prices by four percent in December. The increase will be made to reduce the power tariff differential subsidy to zero during the current fiscal year. Officials said the revision in prices had been made by the government due to the changes in international POL prices and exchange rate. It also helped the government to increase petroleum levy to mitigate its budgetary constraint. The levy in case of petrol has been increased from Rs 9.52 to Rs 9.94 per litre, HOBC from Rs 6.13 to Rs 7.62 per litre and HSD from Rs 4.44 per litre to Rs 5.09 per litre.
The budgetary target for the levy on petrol was Rs 10 per litre, HOBC Rs 14 per litre and HSD Rs 8 per litre. Experts say the increase in diesel prices would have negative impact on the agriculture sector, as the fuel is mostly used in the agricultural machinery. The annual demand of petroleum products in the country is about 20 million tonnes, 400,000 barrels per day, of which only 15 percent is met through local resources.

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14 COMMENTS

  3. O,ALLAH DESTROY THIS ZALIM CORRUOPT GOVERNMENT OF LIARS,CORRUPTS,TARGET KILLERS,BATHAKHORS,BLACKMAILER MQM,PPPZ,ANP,MLC.O ALLAH SAVE US FROM ZALIMS AND FORGU=IVE US,AMIN!

  6. Three cheers for the AWAMI government!

    They keep putting prices up while putting us down further into poverty.

    Come back Musharraff, All is forgiven. Who remembers the relative price stability of his rule?

  7. The Present Government has badly failed to deliver in all aspects: See Corruption in
    PIA,Railway,Steel Mill, Haj,Umra,Memo Gate,Swiss Accounts, High Inflamation, Bad Law and order situation and PTCL Kashmiri Bazar Murree Exchange Closure.Save Pakistan Movement has launched Compaign Against Corruption to save the Motherland.
    SPM Hunger Strike will start on December 25,2011 on Constitution Avenue Islamabad
    in front of Supreme Court Building at 10 AM.Please support our cause to save Pakistan. <a href="http://www.savepakistanmovement.org” target=”_blank”>www.savepakistanmovement.org

  9. Why the example of India is given,it is Pakistan where there is no care for the poor people.Pakistan is only for those who adopt Politics for their wealth earn sources only,log gain Jahanam mein.Who care for Poors.

    • Look around you guys – price increase all over the world, not just Pakistan. As the global financial crisis continues, everyone is affected. Don't worry price increases also happening in India, UK, USA, etc. It's easy to blame government for everything that goes wrong in the country, but big changes happen from the bottom up – How many of you businessmen actually pay your fair share of the tax? Avoiding tax at any cost is the mentality of average joe on the street. Throwing litter outside your house, tampering with elect meter, stealing cable tv from neighbours? sounds small, but its the mentality of the pak ppl which needs to change as well as pak govt. It's a democracy, so stand together and kick these idiots out of power. Shut the country down, refuse to do anything!

  10. Look at the Arab revolution – in their case, having dictatorship worked as the public anger grew to breaking point. The problem with Pak is that govt sees riots, protests and even ppl setting themselves on fire, and no pressure is built up, so its the normal protests they see, no pressure to change. I am Pakistani and recently have to put my head down in shame with all the things going wrong in the country. Internal political instability in all regions, USA, terrorists and even natural disasters, we are getting rammed from all directions! Pak is a nuclear nations? What is the bloody point when Cities like Karachi/Lahore have massive power shortages and ppl living in the heat/business with no elec for 12 hrs..This is a joke..Come on PPL Stand up now. 60+ years of history and look how much crap pak goes through.

  12. Solute to this government to make Pakistani's more n more poor…. with poor ecenomy…

    Poverty is just increasing now no really world should accept us the best consumer/customers Or buyers….

    If this will continue so em so worried what gonna happen to Pakistan…… =(

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