07 June,2022 , 10:00 amAdmin

Breaking News: Petrol prices increase to Rs.300 

According to previous records, petroleum prices have increased up to 60 Rupees in the last 10 days. Which is a record increase in the rate of petroleum. Miftah Ismail finance minister has further tweeted that there would be an increase in petroleum prices again. Petrol prices will increase up to Rs.300. although in his previous statement he mentioned that there will not be any more rise in the prices of petroleum.  

Decisison due to Ex PM 

In a business conference, he explained further that they have taken this decision just because of the ex-prime minister Imran Khan. Because they made a deal with IMF along with former finance minister Shaukat Tarin. Ex-government has made a deal of Rs.300 per liter of petroleum with the International Monetary Fund (IMF). Miftah Ismail lashes out at the previous government and ex-prime minister Imran Khan. He said it's happening just because of the PTI government because they agreed with IMF that they will not give subsidies to petroleum products.  

Subsidies will not be given 

Moreover, according to the resources of Uncle Fixer, the government will not only stop at ending subsidies. Because besides subsidies they have to add the tax to petroleum prices. According to the publication, the government has announced that they will give any more subsidies and the given subsidies will also be removed up to 100% as per IMF orders. And once the subsidy is over, they would have to impose taxes on petroleum products. As they further declared that there is a visible subsidy of Rs9.32 per liter on petrol and Rs.23.05 per liter on diesel.  

Emergency on finance 

The Finance minister said that these days will prove to be an emergency in the finance of the country. As they tried well to improve the economy of the country, which was failing badly due to poor decisions of the previous government. He further declared in a tweet that due to this emergency in the finance of the country petroleum prices must have to be increased. After an increase in petroleum prices, we are finally coming over this financial crisis. That will help in making the better condition of the country.    

Miftah Ismail Tweet

Whether it’s a benefit for the country or not but this increase in petroleum products is causing overall inflation in the country. The nation is in shock by the decision of the government because within a week prices are hiked thrice. As mentioned in the previous week prices were gone from Rs.179 to Rs.209 and now another massive increase of up to Rs.300 will give people another shock.  

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