In an attempt to defend the huge increase in petroleum prices, Federal Minister for Energy Hammad Azhar on Saturday said that prices of fuel and food items have been witnessing a increasing globally, which has impacted Pakistan as well.
“It is important to understand facts regarding the increase in petrol prices in the international market.”
Federal Minister for Energy Hammad Azhar was addressing a gathering during his visit to Lahore here on Saturday.
The Federal Minister for Energy drew a comparison of difference in fuel prices with regional countries, saying that the fuel prices are still more in India than in Pakistan.
Hammad Azhar said that a similar hike in inflation was witnessed in 2018 and the current situation is owing to the impact of Covid-19 globally that would soon ease down, paving way for a decline in prices of commodities.
He said that the government has been making strenuous efforts to minimise impact of the rising inflation on the masses.
“We will definitely go to every possible extent to ease sufferings of the common man, adding that nothing can be change overnight and everything needs due course of time to bear fruit.
“The government has introduced various policies and measures for durable development and prosperity of the masses, especially the poor and lower-middle classes of the country.”
The federal minister pledged that the government would never leave the public in the lurch like the rulers did in the past, adding that people would soon reap fruit of the government policies and measures.
It is to be noted that the federal government made a huge increase in the POL prices, drawing widespread condemnation and ire from the people already bemoaning under the burden of inflation and price hike.
According to the finance ministry, the premier approved the Rs10.49 per litre increase in the rate of petrol.
After the massive increase, the new price of petrol is Rs137.79 per litre.
The high-speed diesel price is also jacked up by Rs12.44 per litre. The new price of high-speed diesel has reached Rs134.48 per litre.