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The federal government on Sunday increased the prices of petroleum products by up to 11.75 per cent for the month of January 2018, DawnNews reported.
The announcement in this regard was made by Miftah Ismail, the newly appointed adviser to Prime Minister on Finance, while addressing a press conference in Islamabad.
Petrol and high-speed diesel — the two most widely used products — will now sell for Rs81.53 and Rs89.91 a litre, respectively, after an increase of around Rs4 each.
Ex-depot price of high-speed diesel increased by Rs3.96 per litre and that of petrol by Rs4.06 per litre.
Moreover, the price of light-diesel oil (LDO) has been increased by Rs6.25 per litre while the price of kerosene oil will see a hike of Rs6.79 per litre.
According to Ismail, the decision was taken by Prime Minister Shahid Khaqan Abbasi after the Oil and Gas Regulatory Authority (OGRA) recommended to do so.
Defending the price hike, Ismail said that the prices of petroleum products have continuously been increasing. He mentioned that the ratio of sales tax on petrol has not been changed.
The revised prices of petroleum products will take effect from January 1, 2018.
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On DawnNews
Comments (41) Closed
Dec 31, 2017 07:30pm
Brown uni too!
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Dec 31, 2017 07:42pm
Congratulations on increasing our standard of living further.
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Dec 31, 2017 07:56pm
Happy new year guys. 30 percent increase in last 2 months to pay the gaming loans. Anything for the game.
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Dec 31, 2017 08:02pm
What else could be expected of such a corrupt, callous and short-sighted Government?
Perhaps the nice, quiet and peaceful people of this country deserve this treatment because they never protest against such developments as this one.
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Dec 31, 2017 08:12pm
Instead of increasing the fuel prices, we should consider reducing the consumption of fuels by decreasing the vehicles on roads. Already we have chaotic traffic problems often making unmanageable traffic go-slows.
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Dec 31, 2017 08:14pm
Very unjustice prices globally are reducing. Prices in pakistan prices already are very high compare to the our nabor country. Government increasing prices to over come the budget deficit rather then cut the governemnt expenditure .
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Dec 31, 2017 08:18pm
Dear Government. Please keep on increasing. The people will patiently pay your bills.
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Dec 31, 2017 08:22pm
Welcome to the club........
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Dec 31, 2017 08:23pm
No excuses. If you elect this level of politicians this what you get. This is not the Government's fault, this is the people's fault. You get what you deserve.
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Dec 31, 2017 08:54pm
if the price rise is part of progress of common mans standard of living.. it is welcome.
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Dec 31, 2017 09:17pm
It is a gift of happy new year to everybody. As an outcome, transportation cost of essential goods to far flung areas of the country, where families are already living in miserable and unsustainable financial state, will be bludgoned further. The myth of having made a turn around trumpeted by former Finance Minister and backed by every bigwig of his ruling party has evaporated so fast that one is flabbergasted even to imagine that existed at any time around. The spiral of ever increasing gap between exports and imports, dwindling FE reserves and bleak and rapidly multiplying balance of payment issue, is going to be nightmarish for those families with fixed income and is likely to add on to their financial woes with no respite in sight. The ripple effect is likely to force many lower middle class families to join those 40 percent already living under poverty lines. The outcome of the failed economic policies of the government will be starkly visible by seeing more beggars on streets.
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Dec 31, 2017 09:22pm
I hope you have all of those items in stock, because it's clear it represents something else...
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Dec 31, 2017 09:23pm
@SHAHID SATTAR welcome to the real world! didn't you just boast at how YOUR life is changing for the better?
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Dec 31, 2017 09:27pm
It is start.
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Dec 31, 2017 09:37pm
Mufta is showing his approach. We must regret this increase as there is no reason, government must revert price.
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Dec 31, 2017 09:43pm
12 percent increase that is too much. Happy new year gift !!
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Dec 31, 2017 09:52pm
@Amjad Durrani Engineer- USA - The outcome you explained is absolutely right but unfortunately, the citizens are not pressuring the government for course correction. The prevailing terrorism and the practices adopted on this issue, are alienating the nation. Tourism is down year after year and so are the exports. Why people do not want to visit and explore Pakistan despite its natural treasure. Nobody ask this question neither in debates nor in NA. Unfortunately, the root cause of all economic debacles is Terrorism and that is beyond discussions for reasons best known to some institutions.
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Dec 31, 2017 09:53pm
Happy new year. This is only the start, things not looking good for Pakistan.
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Dec 31, 2017 09:54pm
The Chinese noose tightens.
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Dec 31, 2017 10:26pm
Pakistan government’s way of saying “Happy New Year”.
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Dec 31, 2017 10:32pm
@kamran .dear prices are going up every where in the world.even in dubai and middle east.kindly mention the countries where it has decreased.
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Dec 31, 2017 10:58pm
All that this Government needs to do now.... is allow import of Tesla Model 3 AS WELL AS any other company's purely electric cars from any country in the world at Zero % taxes & duties, only then would upper middle, middle & low middle class would have access to an affordable mode of private owned transport!
Electric Vehicles are the future, and i dream that one day, they shall be assembled & manufactured in Pakistan entirely!
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Dec 31, 2017 11:26pm
Looting will be continued in 2018 shows this action.
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Jan 01, 2018 12:14am
It appears that increasing tax on fuel is one of the ways left to collect revenue from the wider Pakistani population which does not pay income tax.
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Jan 01, 2018 12:18am
It is our Government's way of wishing Happy New Year and collecting money so that the VIPs can travel in style on the common man's back.
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Jan 01, 2018 12:49am
Clean energy, some one?
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Jan 01, 2018 12:55am
Don't worry CPEC will change everything
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Jan 01, 2018 02:03am
Makes absolute sense. The susbsidy on oil must be reduced. People don't understand basic economics here
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Jan 01, 2018 02:04am
Simply caused by weakening of the Rupee from 105 to 110.5
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Jan 01, 2018 02:06am
more metros less food.
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Jan 01, 2018 02:20am
Has anyone checked Fuel price per Barrel in global market if increased?
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Jan 01, 2018 02:55am
I'm supporting the Sharif mafia by no means but corrupt govt is not the main reason for this increase, it's simply because oil prices are rising also. No to Sharif mafia! Billions looted only seizing their properties is the way to roll back and punish them. Nawaz still has to answer the court where the billions came.
IndoPak Blood Brothers 4 Life!
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Jan 01, 2018 03:53am
Congratulations on first present of 2018. Happy expensive new year. Get ready to still vote for the same. You deserve them.
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Jan 01, 2018 05:34am
For Pakistanis 2018 will be more expensive year.
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Jan 01, 2018 05:44am
Please provide a concrete reason for the increase. What will the federal government do with the additional funds? Interim Prime Minister it is time to leave. Not sure how you can run the country when you could not run an airline, PIA.
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Jan 01, 2018 08:03am
This is beginning of economy collapase a big failure of govt who sees nothing but cpec nd kasmir
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Jan 01, 2018 08:15am
Wait till they add CPEC fees into every bill of ours..
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Jan 01, 2018 08:21am
Easy way to earn money for PMLN government. .
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Jan 01, 2018 08:46am
Rs 150 will be equal to I dollar . Oic needs dollar not rupees . Impact ?
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Jan 01, 2018 09:38am
And where will this money go?? Is this going to pay the loans taken by chinese on cpec
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Jan 01, 2018 10:02pm
@Jais Agreed, Having worked as a UNDP consultant in 2000, jointly working with a team of other experts, we were able to prepare a tourism master plan for Pakistan. But it was shelved for the reasons you aptly described. We can still make a turn around by making the local population, where these marvels of tourism exist, to be owner of any tourism enhancement program, involving them in its operational security at grass root level, providing them training and soft loans to built infrastructural facilities other than all weather roads and security network ensuring safety of visitors, is the only way to eradicate poverty and improve well being of down trodden local people of the area. Once the fruits of economic boom is realized, the people will fend for themselves and will bring those misguided and disgruntled element used as a fodder by others, in the folds of their community at large. During our visits to the northern parts of the country during work sessions, we got a great response.
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