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Inflation bomb explodes again in poor Pakistan, diesel reaches Rs 112 a liter

Islamabad: Debt-ridden Pakistan has once again hiked petrol and diesel prices. The Pakistan Finance Ministry has approved a hike of Rs 2.13 per liter in petrol and Rs 1.79 per liter in high-speed diesel. Not only this, the price of kerosene has also been increased by Rs 1.89 per liter and light diesel by Rs 2.03 per liter.

In Pakistan, petrol is now priced at Rs 110.69 per liter and high speed diesel at Rs 112.55 per liter. In fact, Pakistan’s Prime Minister Imran Khan wants to extract public oil through petrol and diesel. Pakistan is currently going through a period of poverty and the Imran government has resorted to IMF to run the country. Besides, loans have been taken from many countries. Now the IMF Under pressure from Pakistan, Pakistan has started breaking the backs of its own people.

In fact, the International Monetary Fund (IMF) had approved a 500 million loan to Pakistan. It has also stipulated that the government should increase its revenue model through structural reforms. The Imran government has launched the ‘New Pakistan’ program. Under this, the Pakistan government wants to raise Rs 60,000 crore in revenue from petrol and diesel in the next financial year. Pakistan’s Finance Minister Shaukat Tareen has made it clear that we will have to raise taxes to raise this revenue.

He said that at present tax of Rs. 5 per liter is levied on petrol and diesel. The government plans to increase it to Rs 20 to 25 per liter. The Finance Minister was asked if the IMF If it does not accept this fund, will Pakistan reject its relief package? So the Minister made it clear that no, it will not happen. If that happens, the talks will continue. Saudi Arabia is also supplying crude oil to Pakistan under a promise to pay later.