The government has decided to increase the price of petrol and diesel by Rs 30 per liter from May 27.
“Prices will be applicable from 12 noon tonight,” Finance Adviser Muftah Ismail told a news conference on Thursday night.
After the increase in prices of petroleum products, the new price of petroleum will be Rs 179.86 paise while the new price of diesel will be Rs 174.15 paise.
After the price hike, the new price of kerosene will be Rs 155.56 per liter and the new price of light diesel will be Rs 148.31 per liter.
Muftah Ismail said that despite the increase in prices, the government was still giving a subsidy of Rs 56 per liter on diesel. “Imran Khan’s government has laid economic mines.”
Even today, after raising the price by Rs 30 per liter, the government is subsidizing diesel at Rs 56.71 and petrol at Rs 37.84.
“Negotiations with the IMF are moving in a positive direction and we cannot get a loan without raising the prices of petroleum products,” Ismail said.
According to him, the rupee was falling continuously and if the price of petroleum had not increased, it would have fallen further. “The country is facing inflation today due to the economic policies of the previous government.”
“This is the right decision for the state,” said Muftah Ismail. If it causes political damage, then so be it.
“It is not wise to sink the state by saving politics. If our politics sinks and the state survives, it is better for the country.”
In response to a question, he said that it was true that “the IMF had asked for an increase in the prices of petroleum products.”
“However, I will not blame the IMF. Show me a country in the world which gives a subsidy of Rs 86 per liter of petrol.
“Both the rich and the poor are benefiting from the subsidy on petroleum. We are giving petroleum and diesel to the people at a lower price than the price at which we are buying petroleum.
According to the finance adviser, the big car owners get the subsidy by taking money from the poor people. Where is the justice in taking money from poor people and putting it in the pockets of rich people?