Shagun Roy, Pune
Pakistan has announced another increase in the prices of gasoline and high-speed diesel, marking the second such hike in a month. The finance ministry of the country stated that the cost of petrol will be raised by 17.50 Pakistani rupees, bringing it to 290.45 rupees per liter, effective August 16. The price of high-speed diesel will now be 293.40 rupees per liter after a 20-rupee increase.
After receiving the go-ahead from freshly sworn-in caretaker prime minister Anwaarul Haq Kakar, this choice was made late at night. After assuming office, Kakar held meetings to discuss the economy and gave assurances that the previous administration’s programs would continue. According to Pakistan’s finance ministry, the price changes were brought on by the preceding two weeks’ rising trend in petroleum prices throughout the world. It’s significant to note that kerosene and light diesel oil prices were unaffected by the price increases.
Pakistan is now dealing with high levels of inflation, which makes it difficult for its residents to afford their everyday essentials. Due to a lack of staple foods like flour, incidents of rioting and injuries have occurred. However, the Pakistan Army has been most significantly impacted by the rising prices of fuels, oils, and lubricants.
According to the Dawn Daily, the previous administration began a series of price increases on August 1 that closely paralleled this most recent increase in fuel prices. As a result, in just 15 days, petrol costs have increased by around Rs 40 per liter.
Earlier in the month, Pakistan increased petrol and diesel prices in alignment with the fiscal goals set by the International Monetary Fund (IMF), contributing to the existing high levels of inflation. The exceptional shortage of fuel and its unfavorable consequences on the operational preparedness of the Pakistan Army highlights the deep-seated influence of the country’s political and economic instability on its defense forces.