ISLAMABAD: The government’s announcement of an increase in petroleum product prices has been rejected by the Istehkam-e-Pakistan Party (IPP).
IPP President Abdul Aleem Khan stated that the government has further burdened the suffering people with this decision.
Khan emphasized that the increase in inflation will worsen the problems faced by the common men, and there is no justification for the outgoing government to raise the prices.
He pointed out that the white-collar class is already overwhelmed, and the people cannot bear this additional burden any longer.
Khan asserted that the government’s explanations regarding the price hike are unsatisfactory to the people.
The IPP is demanding an immediate withdrawal of the price increase for petrol and diesel.
Petroleum Dealers And Government Seal Margin Deal After Marathon Talks
Following an intense 7-hour negotiation session at PSO House in Karachi, the second round of talks between the Pakistan Petroleum Dealers Association and the government has successfully concluded, reaching an agreement on margins for petroleum products.
However, Sources with inside information reveal that the parties have officially documented the agreement, after mutual consent. Representatives from the Ministry of Petroleum, OGRA , and petroleum dealers are now ready to sign the agreed-upon document.
In the meeting, the ministry initially proposed a margin increase of Rs1.64 per litre, which faced resistance from the petroleum dealers. However, as the session progressed, the dealers eventually accepted the proposal.
Malik Khadim Baksh, a leader of the association, confirmed the development. He stated that the margin will be incrementally increased in four stages over 15-day intervals, rather than a one-time increase.
However, The margin will see a 41 paisa per litre increase every 15 days, aiming to achieve the full recommended margin within two , according to Malik Khadim Baksh.
The approved increase is set to be implemented on August 1. The final stage will be completed by September 30.
Moreover, Petroleum dealers sought a 5 rupee per litre increase from their existing 6 rupee per litre margin. The Minister for Petroleum Affairs linked the increase to a minimum monthly wage of Rs25,000 for pump workers and an 8-hour working day.
Additionally, To assess the expenses of petroleum dealers. Data from over a thousand petrol pumps in rural and urban areas were collected in the past two days. The proposed Rs1.64 per litre increase was formulated based on this analysis.
