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The people of Pakistan, who are facing economic crisis, do not seem to be getting any relief. Despite the help of IMF, the government has failed to reduce the problems of the common people. On the other hand, inflation is rampant in the country. The Pakistan government has once again increased the burden on the public. The Pakistan government has increased the prices of petrol and diesel in the country at midnight. The price of petrol has been increased by Rs 9.
'Petrol bomb' explodes on people struggling with inflation!
People in Pakistan who have been suffering from inflation for a long time have to face difficulties once again. The government has increased the prices of petrol and diesel. Due to the huge increase in electricity rates in Pakistan, the prices of flour, pulses, rice, vegetables and other essential items are increasing and they are becoming out of the reach of the common man. Along with this, the government is also bursting petrol bombs one after the other in the country. After the recent increase in the prices of petrol and diesel, its price has now reached close to Rs 300.
Petrol and diesel prices are skyrocketing
The Pakistan government has increased the price of petrol by Rs 9.99 and diesel by Rs 6.18 per liter. The Pakistan government has issued a notification. It said that due to fluctuations in prices in the international market, the new price of petrol will be Rs 275.6 per liter and HSD will be Rs 283.63 per liter.
Another hike in 15 days
New prices of petrol and diesel have come into effect from midnight in Pakistan. The government has made another big hike this month. On July 1, 2024, the price of petrol in Pakistan was increased by Rs 7 per liter and the price of diesel was increased by Rs 9 per liter. The government announcement also said that there has been no change in the duties and taxes on fuel products and they will remain applicable as before.
This is the tax on petrol and diesel in Pakistan
According to the report, the Pakistan government has said that in recent days, the price of petrol in the international market has increased by $ 4.4 per barrel and the price of diesel by $ 2 per barrel. The government has increased the limit of Petroleum Development Duty (PDL) to Rs 70 per liter in the financial bill to raise Rs 1.28 trillion in the current financial year. In Pakistan, the government currently charges about Rs. 77 per liter tax on both petrol and HSD.
The general sales tax on all types of petroleum products is zero, but the government levies a PDL of Rs 60 per liter on them, the burden of which is generally borne by the general public. A customs duty of about Rs 17 is also levied on petrol-HSD.
Petroleum products play a big role in increasing inflation.
It is worth mentioning that the prices of petroleum and electricity are the main reasons for inflation. On one hand, petrol is mostly used in private transport, small vehicles, rickshaws and two-wheelers. On the other hand, the increase in diesel prices increases inflation the most, as it is mostly used in heavy transport vehicles and with the increase in transportation costs, the prices of vegetables and other food items especially increase.