Tag: petrol price hike

  • ‘Laggay raho bhai’: Yet another petrol hike has celebrities completely speechless

    ‘Laggay raho bhai’: Yet another petrol hike has celebrities completely speechless

    Friday’s petrol price hike has completely shocked social media. The Ministry of Finance said on X (formerly Twitter) announced that the cost of petrol has risen by Rs 26.02 per litre, coming to Rs331.38 per litre, while high-speed diesel (HSD) saw a hike of Rs17.34 per litre, settling at Rs329.18 per litre.

    Social media users were enraged at the constant price hikes, and celebrities were no exception.

    Singer and actor Ahmed Ali Butt slammed how the public was more concerned with the price of the upcoming iPhone 15 than they were with the ongoing petrol price hike.

    “As a nation we have lost all will to fight against this inflation which is due to corruption and bad economic policies,” he shared on Instagram.

    Veteran comedian and actor Sohail Ahmed took to X, formerly Twitter, to request current government to stop implementing policies that are exploiting common folks.

    Screenwriter Khalil-ul-Rehman Qamar asked all Pakistanis to pray during these difficult times.

    Maybe is mushkil waqt mein thora humor hi chal jata hai? Rabya Kulsoom joked that before any Pakistani, it was the petrol price that reached to the moon!

  • Petrol price increased to historic high of Rs305.36 per litre

    Petrol price increased to historic high of Rs305.36 per litre

    For the first time in Pakistan’s history, the price of petrol has crossed the Rs300 mark due to a recent hike of Rs14.91. This brings the new petrol price to Rs305.36 per litre. The diesel price has also increased by Rs18.44, now at Rs311.84 per litre.

    The government has attributed these revisions to the upward trajectory of global petroleum prices and the consequential fluctuations in exchange rates.

    A statement issued by the finance ministry highlights that due to the escalating trend of petroleum prices in the international market and the subsequent shifts in exchange rates, the Government has opted to recalibrate the prevailing consumer prices of petroleum products.

    In the days ahead, the effects of these significantly heightened petrol and diesel prices will become evident. These price fluctuations are poised to have a substantial impact on individuals who rely on personal vehicles, such as bikes and cars, as well as those who depend on public transportation services.

  • ‘More mouths to feed than we can cope with’: Street Kitchen ‘Khana Ghar’ feeds millions of Pakistanis amid inflation

    Due the ongoing inflation crisis in Pakistan, food and petrol prices have risen astronomically, leading to many families finding it difficult to afford basic necessities like rice or flour. Writing for The Guardian, Zofeen T Ebrahim has covered the story of the street kitchen ‘Khana Ghar’ set up in Karachi’s poorest district by Parveen Saeed, who has been serving food to families for the past 22 years.

    Opening up to The Guardian, Saeed said that the kitchen has become even more busy since Ramzan began, as more families have arrived to receive one-month food rations:

    “But we can only give one bag to one family, and we need their ID cards to check that,” she said. “There are more and more mouths to feed than we can cope with.”

    Saeed, who had received the Pride of Performance award in 2021, sells salan and roti to families for only Rs 3. Before the Covid-19 lockdown, the kitchen provided meals for 6,000 people, but afterwards it rose to 7000, and now currently stands at 8,200.

    Saeed revealed that people stand in line for long hours in order to eat, because the ongoing political and economic instability has made it difficult for people to make a living:

    “These people are not beggars, they have become destitute..where are the jobs?”

    “Food prices have hit the sky. It is heartbreaking as they have waited for a couple of hours, only to leave empty-handed.”

    The newspaper also spoke to some of the regulars who visit Khana Ghar. Former construction worker Mohammad Shakeel, a father of six, suffered a head injury and broken wrists after which finding work became incredibly hard. He said the food was a ‘Godsend’ because “with a kilo of flour costing 150 rupees, we would not be able to survive the jump in food prices.”

    A widow who has been relying on Khana Ghar to feed her polio ridden daughter and toddler grandson said, “Had it not been for Parveen, we would have died from hunger.”

  • Govt may cut petrol price by Rs11 per litre today

    Govt may cut petrol price by Rs11 per litre today

    The price of petrol may be reduced by Rs11 per litre by the government, according to sources privy to the matter.

    According to Dawn, the cost of petrol is anticipated to drop by Rs11 per litre, while the cost of high-speed diesel is anticipated to rise by Rs8 per litre. Petrol is currently available for Rs230 per litre.

    The tax on petrol is expected to surge by Rs5 per litre and the tax on diesel, kerosene, and light diesel by Rs10 per litre, as per reports.

    However, the Ministry of Finance will reveal a price revision today, and the new rates will take effect on August 1.

  • PM Shehbaz to announce relief package for the poor

    PM Shehbaz to announce relief package for the poor

    Prime Minister (PM) Shehbaz Sharif will announce a relief package soon for those who are unable to afford fuel after a massive hike imposed by the government.

    This is undoubtedly an excellent news for the lower-income strata, as the recent petrol hike has weighed heavily on the inflation-stricken masses.

    Finance Minister Miftah Ismail announced last night a gigantic increase in the price of oil products in an attempt to reestablish the International Monetary Fund (IMF) plans to assist the country’s fragile economy.

    The decision was made in light of IMF guidelines, which required the removal of oil subsidies in order to restart Pakistan’s much-needed programme. On a talk show, Miftah Ismail slammed former Prime Minister Imran Khan for his contract with the IMF.

    “Imran Khan promised the IMF a Rs30 levy and a 17.5% sales tax on petroleum products,” he explained.

    The government is losing Rs120 billion per month as a result of Imran Khan’s unilateral decision to provide petrol subsidies, according to the finance minister.

    “Prime Minister Shehbaz Sharif had to make a difficult choice. However, he will announce a relief package for those who cannot afford high fuel prices in his address to the nation today,” Ismail added.

    According to Miftah, the government has already stated that the IMF programme will not begin unless petroleum subsidies are eliminated.

    Miftah Ismail voiced concerns about losing political capital as a result of the current decision to raise fuel prices, saying, “honestly telling you, we have admitted that by deciding on hiking fuel prices, we will suffer politically, but this is our country, and we will sacrifice to fix its issues”.

    Ismail acknowledged that the current increase in gasoline prices will shift the burden to the masses and increase inflation.

    Miftah dismissed the possibility of a default, saying, “I’m guaranteeing two things: the IMF programme will be restored, and Pakistan will not go bankrupt”.