Pakistan in economic trouble

Pakistan in trouble, diesel 117, petrol all time high

The economically weaker Pakistan government has had all its new ways of increasing the income, it is also trying to increase the revenue by increasing the burden of taxes and public taxes, the government has increased the prices of all petroleum products to 6.45 per cent on Sunday. According to the prices applicable for April, prices of petrol and diesel have been increased by Rs. 6 per litre and kerosene and light diesel oil (LDO) have been increased by Rs. 3 per litre
Image result for machine at petrol pump
The people of Pakistan are very upset with the rising prices of inflation and petrol and diesel. Despite this, the government has warned that prices of electricity and gas will be increased in the coming months.

Now, diesel gets 117 rupees per litre and the petrol is 99 rupees litre. This makes the people of the Pakistan quite upset. The Pakistan government has said that the increase in crude oil prices last month has led to an increase in prices due to the 2 percent increase. The high speed diesel (HSD) price of X Depot has gone up to Rs 117.43 per litre, the highest since July 2018. The first rate was Rs. 111.43 per litre.

Similarly, the price of Motor Speed ​​(petrol) has gone up to Rs 98.89 per liter, which is the highest of nine months. The price of petrol was Rs 92.89 earlier. The price for kerosene has now been fixed at Rs 89.31 per litre, which is highest since October 2014. The price of light diesel i.e. LDO has been fixed at Rs 80.54 per litre, which is at the highest level of five months.

According to the Pakistani newspaper Dawn, the government has not put the entire burden of growth on the public, and has reduced the tax rate to avoid public displeasure.Pakistan's Oil and Gas Regulatory Authority (Ogra) had estimated that the price of HSD would be Rs 11.17 per liter, petrol would have to increase by Rs 11.91 per liter and kerosene at Rs 6.65 per litre . In the past one month, Brent crude oil prices rose from $ 66.57 a barrel to $ 67.86 a barrel.

Prior to this, the Pakistan government had increased general sales tax on all petroleum products to 17 percent. Petrol and Diesel are two major products that make the government the highest revenue, because their consumption in the country is increasing. Consumption of petrol in the country is about 7 lakh tonnes and the consumption of HSD is 9 lakh tonnes. The consumption of kerosene and LDO is about 10 thousand tonnes per month.The cost of petroleum in Pakistan is increasing from 2017.


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