Tag: petrol hike

  • The petrol hike might make you cry but at least these hilarious memes won’t

    The petrol hike might make you cry but at least these hilarious memes won’t

    How do Pakistanis start a Sunday morning?
    Apparently, by learning about how their budgets will be stretched out even further.
    Pakistanis woke up on Sunday morning to learn that a new petrol hike had announced by the Finance Minister, Ishaq Dar. In a press conference, he revealed that a Rs 35 increase would be applied from 11 am on that very day.
    Well how do Pakistanis deal with the crashing economy, no electricity and crushing debt? With some killer memes.

    Well how do Pakistanis deal with the crashing economy, no electricity and crushing debt? With some killer memes.

    It sparked some ideas about some creative ways to travel.

    The superior gender FTW.

    *wink wink*

    Get her a diamond ring? Taking her on a date to an expensive restaurant? Ditch all of that because a better idea dropped.

    BRB learning how to speak in Korean

    PLEASE

    In other words:

  • Petrol quota for ministers, govt officials in Sindh lowered by 40 per cent

    Petrol quota for ministers, govt officials in Sindh lowered by 40 per cent

    Sindh Chief Minister (CM) Murad Ali Shah lowered the petrol allotment of ministers and government officials by 40 per cent this week as part of his moderation campaign following another spike in petroleum prices.

    Keeping in view a substantial spike in POL prices within the last few days, the decision was made to limit spending and decrease the strain on the national kitty.

    “The rise in petrol price should not be a burden on the exchequer,” Sindh CM Murad Ali Shah said, increasing the treasury’s load entails intensifying the burden on individuals.

    To meet the International Monetary Fund’s (IMF) conditions, the government has unleashed another big gasoline bomb on the country after another hike of Rs30. In less than a month, the price of petrol has risen by Rs60 to Rs209.86.

    The latest petrol price hike came just hours after the National Electric Power Regulatory Authority (NEPRA) approved a power tariff hike of Rs7.91 per unit.

    The price hike sparked riots in Karachi, with protesters wrecking a petrol pump and torching tyres on University Road. Despite expressing their dissatisfaction with the situation, the general public has requested that the government tightens its belt instead of putting the weight on the populace.

    Senator Mustafa Nawaz Khokar, a top PPP lawmaker, also shared this attitude, suggesting a 50 per cent wage cut for politicians, generals, judges, and senior bureaucrats.

    “Why should common folk shoulder the failures of the political, military and judicial elite? This joke has to end”.

    If the average citizen is compelled to narrow his belt, Khokar believes that politicians, generals, judges, and top bureaucrats’ income should be halved and all amenities, including free utilities, should be removed.

    The administration warned on June 2 that it would raise fuel prices by Rs30 for the second time in ten days, as an attempt to obtain the remaining funds from IMF.

  • Inclusion of Rs28 billion relief package in upcoming budget: PM Shehbaz

    Inclusion of Rs28 billion relief package in upcoming budget: PM Shehbaz

    Prime Minister (PM) Shehbaz Sharif said that the government would include a Rs28 billion package in the upcoming budget to provide relief to the masses. He was addressing the nation yesterday (May 27).

    PM Shehbaz said that aside from the relief package, the government would immediately provide Rs2,000 for around 85 million people to help them fight the effects of inflation.

    “This is aside from the Benazir Income Support Programme (BISP) monetary assistance they are already getting. This relief package will be included in the next fiscal budget,” the premier said.

    The premier added that he has directed the Utility Stores Corporation (USC) to provide 10kg of wheat to people for Rs400.

    ‘It was you who signed tough deals with IMF, not us’

    Criticising ex-PM Imran Khan and Pakistan Tehreek-e-Insaf (PTI) government, PM Shehbaz said it was Khan who struck a deal with the IMF, not the current government.

    “We did not agree to the strict conditions laid forth by the IMF; you burdened the masses with heavy inflation, not us; you buried the country under heavy debts, not us; international institutions said that corruption increased during your tenure, not ours; electricity load shedding was brought back during your tenure and you are responsible for the economy’s suffering.”

    If Imran Khan thinks his “ego” is bigger than the state, then it is his misconception

    PM Shehbaz said if Imran Khan thinks his “ego” is bigger than the state, then it is his misconception as Pakistan will function in line with the Constitution and not upon following the direction of one person.

    Without naming Imran Khan or the PTI directly, he said one man had fabricated an international conspiracy on the basis of foreign correspondence, even though the National Security Committee (NSC) and Pakistan’s ambassador to the US had repeatedly refuted such claims.

    “For his personal political gain, he is harming Pakistan’s diplomatic relations. Pakistan will be governed by the constitution, not one man’s whims,” the PM asserted.

    “Due to the faulty policies of the previous government, our friendly countries are upset. We will restore fraternal relations with them,” he said, adding Pakistan wanted peace in South Asia and urged India to withdraw its Aug 5, 2019 decision on Kashmir and then sit with Pakistan for dialogue to resolve all issues.

    Khan has repeatedly blamed the US for backing the no-confidence motion that leads to his ousting and has refused to accept the newly-elected government.

    Shehbaz added that Khan claimed that the US Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald Lu had threatened Pakistan’s ambassador for removing his government.

    “This person, when Pakistan was progressing under prime minister Nawaz Sharif, staged dharnas. At that time, Chinese President Xi Jinping had to come to Pakistan, but due to [Khan’s] arrogance, the agreement that was scheduled to take place was delayed.”

    The prime minister said that taking up the challenge of coming into power was not easy as the country’s situation was gloomy, and the nation was plagued with hatred during the previous government’s tenure.

    ‘PTI govt announced petroleum subsidy for political gains’

    Explaining the reason for the increase in petroleum prices, Shehbaz said,” From oil-producing countries to developed countries, everyone was gripped with economic turmoil. But for political gains, the previous government announced a petrol subsidy for which there was no room in the national exchequer,” the premier said.

    Govt to provide targeted subsidies to 14 million families, says Miftah Ismail

    Finance Minister Miftah Ismail said that the government would provide targeted subsidies to 14 million deserving families as announced by PM Shehbaz Sharif in his address to the nation.

    Addressing a press conference in Islamabad, Miftah shared the criteria for availing of the ‘Sasta Petrol, Sasta Diesel’ relief package.

    “Women, whose household income was less than Rs40,000 per month, could text their Computerised National Identity Card (CNIC) numbers on 786 or call that number to receive Rs2,000”, said Miftah.

    “We cannot provide complete relief as we do not have the resources but we will do all we can to dress the wounds [of poor people].”

    Miftah further added: “7.3 million beneficiaries of Benazir Income Support Programme (BISP) are already getting Rs2000, and the government is planning to add 7 million more people to the database who would receive Rs2,000 in terms of fuel subsidy.”

    Pakistan People’s Party’s (PPP) Senator Mustafa Nawaz Khokhar tweeted, “The decision to go to IMF should be taken by a government with a fresh mandate.”

    Agreeing with Khokhar, Miftah said, “He is right, the new government will strike a new deal with the IMF after taking a fresh mandate next year, but this is a coalition government and our priority is to steer the country out of economic crisis and maintain an economic stability.”

    “Therefore, we are continuing with the previous IMF programme, which was finalised by the PTI government,” he said.

  • Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    The Oil and Gas Regulatory Authority (OGRA) suggested the federal government elevate fuel prices by up to Rs83.5 per liter for petrol and Rs119 for diesel.

    A summary to the petroleum division was presented by OGRA for the huge increase in petroleum rates to come into effect on April 16 in Pakistan.

    The proposed raise was calculated using a 70 per cent GST rate plus a Rs30 per liter levy. It is worth noting that the current duty on fuel and diesel is Rs30 per liter, plus 17 per cent GST.

    On the basis of complete levy and taxes, the body has recommended raising petrol prices by Rs83.5 per liter, while diesel prices should be raised by Rs119 per liter.

    According to reports, the OGRA proposed raising the petrol price to Rs21.53 per liter in line with the current tax rate, Rs51.3 for diesel, and Rs77.56 for kerosine oil on the grounds of full tax and levy.

    Read more: Gold prices go up by Rs350 per tola to Rs130,300

    Concerning other oil products, a full tax rate and levy hike of Rs77.31 was suggested for light diesel, Rs36.5 for kerosine oil, and Rs38.89 for light diesel. According to sources, the finance ministry would make the final decision on the OGRA summary after briefing Prime Minister Shehbaz Sharif.

  • Petrol price likely to go up by Rs13 today, price at Rs160 per litre

    Petrol price likely to go up by Rs13 today, price at Rs160 per litre

    Petroleum prices are expected to increase across Pakistan from today (Tuesday) in the wake of Russia-Ukraine hostilities, reports Geo News.

    The price of petrol and fuel are likely to increase by Rs13 per litre and diesel by Rs18 per litre. The current price of petrol is Rs147.83 per litre, the price of High-Speed Diesel (HSD) stands at Rs144.62 and Light Diesel Oil (LDO) at Rs114.54 per litre.

    According to Reuters, oil prices jumped to a seven-year high on Monday when the United States (US) warned that Russia could soon invade Ukraine.

    Russia is one of the world’s largest oil and gas producers, and fear that Russia could invade Ukraine has driven the rally in oil closer to $100 per barrel, a level not seen since 2014.

    However, no official notification by the government has been released yet.

    Last month, Prime Minister (PM) Imran Khan rejected the summary of increasing prices of petroleum products in the public interest.

  • All petrol pumps will be closed, petroleum dealers announce strike on Nov 25

    The Pakistan Petroleum Dealers Association (PPDA) has announced a countrywide strike on November 25 for selling petrol “on low-profit margins”, reports The News.

    The association’s spokesperson said that all petrol pumps across the country, including Kashmir and Gilgit Baltistan, will remain closed on November 25 (Thursday).

    He said the strike could extend to an “unspecified period” if the government continues to ignore the association’s demands.

    According to him, “We have no other option but to go on strike as the government has failed to meet the November 17 deadline for the fulfilment of our demands.”

    Previously, the association had made a similar announcement for November 5 but withdrew after a team from the government agreed to increase margins on the sale of petroleum products by six per cent.

    However, there has been no progress ever since.

    PPDA Chairman Abdul Sami Khan said petroleum dealers have been in a difficult position due to the high cost of business and low margins. He said that the government guarantees a margin of only 2 per cent on sales of fuel oil in the face of rising electricity tariffs.

    “We demand the government to cancel our petrol pumps licences. Nearly 50 per cent of the petrol pumps will close down permanently with licence cancellation as no one will reapply for acquisition”.

    Earlier this month, the government had announced the rise of up to Rs 8.14 per litre of petroleum products.

  • Opposition unites to form anti-govt strategy over inflation

    Opposition unites to form anti-govt strategy over inflation

    Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif Friday made a telephone call to Pakistan People’s Party (PPP) Chairperson Bilawal Bhutto-Zardari to discuss the rising inflation in the country.

    Both leaders discussed a joint strategy of the Opposition against price hike and the National Accountability Bureau (NAB) amended Ordinance in the parliament.

    Shehbaz’s son, Hamza Shehbaz, also proposed that the time has come that all Opposition parties sit together and work out a ‘constitutional solution’ to get rid of this anti-people government, as Shehbaz is optimistic that the PPP may join the Pakistan Democratic Movement (PDM) at some stage for a joint movement against the Pakistan Tehreek-e-Insaf (PTI) government, reports Dawn.

    The Opposition slammed Prime Minister (PM) Imran Khan’s government for increasing petroleum prices once again and setting a new record in the country’s history.

    “Yet another petrol bomb exploded on the masses in the dead of night. This is IK’s way of providing ‘relief’ after giving a long sermon yesterday. Unfortunately, every day dawns with horrible news for the people. This incompetent/corrupt PTI govt & Pakistan can’t go together,” Shehbaz tweeted.

    Bilawal Bhutto-Zardari took to Twitter and wrote, “Govt increase petrol in the dead of night by Rs8. Increase of almost 20rs in less than a month.”