The New Year started with the gift of increase in fuel prices and a rise in vehicle prices. The devaluation of rupee against dollar, the rise in oil prices worldwide affected Pakistan negatively. The public suffered as the petroleum prices increased.
Now as per new media reports Oil and Gas Regulatory Authority (OGRA) has again given a proposal to the Ministry of Petroleum to raise petroleum prices once again.
The recommendation by OGRA is to increase petrol prices by PKR 3 and diesel prices by PKR 10.
If these new changes are approved by the Ministry of Petroleum, the Pakistani public should be prepared to suffer again. Currently, the prices of High-Speed Diesel, Petrol, Light Diesel, Superior Kerosene Oil are PKR 89.91 per liter, PKR 81.53 per liter, PKR 58.37 per liter, and PKR 62.30 per liter respectively. Now if Ministry of Petroleum increases the prices, the above-mentioned prices will increase.
When the prices were increased previously at the start of the New Year, the general public and the local consumers were highly critical about it. Lahore Chamber of Commerce and Industry and Islamabad Chamber of Commerce and Industry disapproved the price increase. They clearly said that the hike in prices will affect the whole economy of Pakistan.
The rise in petroleum product prices, increased transportation prices, the whole industry was affected.
It is a complete cycle if you disturb one segment of the society the whole society is affected. OGRA and Ministry of Petroleum need to understand that they cannot raise petrol prices every month. They need to comprehend that the people are suffering because of their decisions. The general public is already paying hefty bills, inflation is like a slow poison for the lower and middle class of Pakistan, if now they keep on increasing petrol prices, what is the way out for the people of Pakistan?