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Pakistan caretaker gov’t announces massive increase in petroleum prices as protest against price hike continues

By The South Asia Times

ISLAMABAD - Pakistan caretaker government on Thursday announced a massive increase of Rs 22 per liter in petroleum prices taking the petrol per liter to Rs 312, the highest rate in the history of Pakistan.

According to a notification, shared by social media users, the Finance Division, said that in the wake of an increase in petroleum prices in the international market and depreciation of rupees, the petrol price per liter increased by Rs 22.45 from Rs 290,45 to Rs 312.

The announcement was not welcomed by the public who are already facing huge price hikes in the country's history. The latest announcement further increases People's anger as they are already in the streets to protest against the recent massive increase in electricity bills.

On Thursday massive protest rallies were held across Pakistan against the massive increase in electricity bills as the majority of people saying that they are not in a position to pay the huge electricity bills.

Caretaker Prime Minister Anwarul Haq Kakar while talking with a group of journalists said that his interim government would announce to provide relief in the electricity bills to the public.

However, Kakar’s interim government announcement of increasing petroleum prices would further cause price hikes and increases in electricity and gas bills.

Pakistan facing a severe economic crisis since April last year when the 13 parties PDM government ousted the former prime minister Imran Khan’s government through a no-confidence vote in the parliament.

The economy was growing with 6% GDP growth during Khan’s government, however, it declined to 0.4% during the last 16 months.