Islamabad [Pakistan], November 1 : Pakistan's opposition parties have severely criticised the central government of Pakistan for increasing the price of petroleum commodities, noting that it would further increase the burden on the inflation-hit masses, Geo News reported.
Contrary to market expectations, the Pakistani Government raised the petrol price by Pakistani Rs1.35 per litre on Thursday night, effective until November 15. As per Pakistan's Finance Division's notice, petrol now costs PKR 248.38 per litre, which is up from the previous price of PKR 247.03. High-speed diesel (HSD) increased by PKR 3.85 now stands at PKR 255.14 per litre from PKR 251.29, as per Geo News.
However, it was noted that kerosene oil saw a reduction of PKR 1.48, bringing the price to PKR 161.54, while light diesel oil dropped by PKR 2.61 to PKR 147.51 per litre.
Displeasure over the government's action was expressed by various leading opposition Pakistani parties such as former Pakistan PM Imran Khan's Pakistan-Tehreek-I-Insaaf (PTI), and Jamaat-e-Islami.
According to Geo News, Jamaat-e-Islami's Emir Hafiz Naeem-ur-Rehman expressed strong disapproval over the recent increase in petroleum prices, calling it "shameful." The top JI leader, in a statement, criticised the government, claiming it has shown no willingness to provide relief to either the general public or the industrial sector.
Hafiz Naeem highlighted that while international prices are decreasing, Pakistan is witnessing price hikes.
He further urged the government not to "take out its frustration over PIA's privatisation failures" on the public through price increases.
PIA is Pakistan's national airline carrier which underwent bidding as the inefficiency and various issues in the airlines resulted in great losses to the national exchequer of Pakistan.
Petrol is primarily used in private transportation, including small vehicles, rickshaws, and two-wheelers. Higher fuel prices deeply affect middle and lower-middle-class budgets since these groups mostly rely on petrol for commuting. In contrast, high-speed diesel is crucial for the larger transport sector, powering heavy vehicles like trucks, buses, trains, and farming equipment such as tractors and tube wells.
Since high-speed diesel fuels essential goods transport, its price hikes are especially inflationary, directly increasing the costs of vegetables and other staples, thereby impacting everyday food prices.
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