Pakistan Finance Minister hints rise in petroleum product prices

Hinting at a further increase in Pakistan's petroleum product prices in the coming days, Finance Minister Shaukat Tarin said that Imran Khan-led government in the country cannot keep fuel rates artificially low, local media has reported.

The Finance Minister made these remarks at a television programme while referring to a hike in oil prices in the international market, categorically rejecting the idea of reducing petroleum prices artificially.

"If the international market witnesses a hike in prices, the government will have to shift the burden onto the people," he added, according to The News International.

According to the publication, Tarin hesitated to back the government's decision to maintain unchanged petroleum prices for the first 15 days of February, saying that though this decision is popular, it is not going to sustain for a longer period.

Shedding light on the next fiscal year's budget, the Minister said that it is a challenge for the government. He was of the view that the government would be under pressure at the time of presenting the next budget due to upcoming general elections, The News International reported.

On January 15, the Pakistan government had announced a Pakistani Rs 3.01 increase in the price of petrol owing to the rising petroleum prices in the international market.

According to a notification by the Finance Division, besides petrol, an increase in other petroleum products was also enforced from January 16, Geo News reported.

This comes amid the massive rising inflation in the country.

Meanwhile, the opposition coalition in Pakistan will organize an "anti-inflation" long march to Islamabad on March 23 on the occasion of Pakistan Day.

The Pakistan Democratic Movement (PDM) already gave a call for taking out a long march to Islamabad protesting the soaring inflation on March 23, however, Interior Minister Sheikh Rashid Ahmed urged opposition to either prepone or defer the long march by four days and not hold the rally on Pakistan day.

( With inputs from ANI )

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