Govt ruthlessly increases petrol price by 22.20 per litre to Rs272

 ISLAMABAD: The imported government is continuously snatching the right of living from the people of Pakistan and making their life hell as it has once again cruelly increased the price of petrol by Rs22.20 per litre as it eagerly wants to meet the prerequisites for unlocking the $1.1 billion International Monetary Fund (IMF) loan at every cost and suffering of the poor.

As per the notification issued by the Finance Division, the rate of petrol has been increased to Rs272.00 per litre from Rs249.80 per litre. The new prices will come into effect from 12am tonight.

Moreover, the price of high-speed diesel (HSD) has been raised by Rs17.20 per litre to Rs280.00, the price of kerosene by Rs12.30 to Rs202.73 per litre whereas the price of light diesel increased by Rs9.68 to Rs196.68 per litre.

The increase in the price of petroleum products was one of the preconditions of the Washington-based lender, which will lead to a hike in the already record-high inflation, coupled with the new fiscal measures undertaken through the ‘mini-budget’.

Earlier on Wednesday, Minister for Finance and Revenue Senator Ishaq Dar moved the Finance (Supplementary) Bill 2023 or the “mini-budget” in the National Assembly as the government eagerly wants to meet the prerequisites for unlocking the $1.1 billion International Monetary Fund (IMF) loan.

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Addressing the lower house of parliament, Dar proposed the imposition of new taxes worth Rs 170 billion in various sectors to minimize the fiscal deficit of the current fiscal year 2022-23.

The finance minister said the government has proposed to increase the General Sales Tax on the import of luxury items from the existing 17% to 25%, while overall General Sales Tax has also been increased from the existing 17% o 18%.