Petrol increased by PKR 30 to PKR 209.9

[VCheng]

I think this is just the burden of the momentum of controlling petrol prices. Pakistan's economy has been selectively socialist in the weirdest and most damaging ways possible. I think the global increase in oil prices has been the straw that broke the camel's back. IMHO the oil prices are never going to go back down in any meaningful way. So the government - regardless of which political party - will have to rationalize the price of petrol. Giving subsidy on petrol simply isn't sustainable and will get more and more unsustainable as time goes on. This will hurt - but Pakistanis need to learn to "chadar dekh ke paoon pehlana."

Controlling prices is a fool's errand given the nature of free market forces. Remove all energy subsidies and let the price float according to prevailing world prices. The people will earn their lesson once, and well. This is unavoidable. Ethay deney hey yaa thaney jaa key?

 

[RIP Pak LAW]

Who soever has lured these DUMBOS to make a Govt at these high inflationary times is a real genius. If these price hikes continue, PMLN is definitely FCKED.

Abhi tu party shru huee hai Bhai...Showbaaz nay khudkhush humla Kiya hai pmln per as far as upcoming general elections are concerned

 

[Hulk]

The real question here is why do Pakistani people feel entitled to enjoy fuel at rates lower than what the rest of the world pays, specially when their government - no matter who - has no money?

The price increase was unpopular but right step to take. Real leaders can take tough calls. Everyone wants to be in good books of voters.

 

[Asimzranger]

Also the freaking automotive cartel, can’t believe how cars a commodity are an appreciating asset in Pakistan.

even used rusted ordinary cars prices have appreciated so much

 

[Bilal.]

Still 24-25 increase in diesel and 5-10 in petrol in the cards

 

[VCheng]

Because the lowering of fuel prices has always been used by an incumbent government to showcase it's economic prowess, while an increase in fuel prices is always used by the opposition to criticize economic policies of the government.

IK did do one somewhat sensible thing, reduced the taxes on fuel so that the govt pockets less money. There was a school of thought at that time, and one which is scientifically backed, that you will lose more from other sources by increasing fuel prices (in the form of inflation and reduced industrial output) than you will by giving out a certain subsidy for the fuel.

This subsidy amount has to be calculated by looking at data to ascertain the exact amount at which you lose more from other sources than from the subsidy.

As I said already:

Controlling prices is a fool's errand given the nature of free market forces. Remove all energy subsidies and let the price float according to prevailing world prices. The people will earn their lesson once, and well. This is unavoidable. Ethay deney hey yaa thaney jaa key?

 

[Ghazwa-e-Hind]

India reduced 25 Rupees in fuel by importing Oil from Russia.

Pakistan was going to do the same, but American puppets are "Shah se zyada shah ke wafadaar)"

Should have listened to Imran Khan at that time.

Now face the wrath of people.

 

[Waterboy]

Idk why cultist PTI followers are ranting and abusing N.

Miftah took the right decisions. These detrimental subsidies introduced by PTI were unsustainable.

IMF program is imminent now, along with loans from SA and UAE.

 

[FOOLS_NIGHTMARE]

People wont be able to bear this extreme inflation.

I have just heard OPEC has increased production, which might decrease the crude oil inflation. Nevertheless, I am very very angry at this stupid mixed achar muraba at the moment.

 

[Waterboy]

India reduced 25 Rupees in fuel by importing Oil from Russia.

Pakistan was going to do the same, but American puppets are "Shah se zyada shah ke wafadaar)"

Should have listened to Imran Khan at that time.

Now face the wrath of people.

Keep selling this russain chooran...

 

[VCheng]

The price increase was unpopular but right step to take. Real leaders can take tough calls. Everyone wants to be in good books of voters.

Violating basic economic principles to curry political favors is always a losing bet.

 

[Falconless]

Here’s a garam take, let the market decide the prices.

 

[Tomcats]

The real question here is why do Pakistani people feel entitled to enjoy fuel at rates lower than what the rest of the world pays, specially when their government - no matter who - has no money?

It's because costs of goods go up a lot too, it has a knock on effect, hence why but anyways the petrol being that price as it was, mostly benefited the more richer folk from what i have heard, though havent seen any data to back that up so.

IK did do one somewhat sensible thing, reduced the taxes on fuel so that the govt pockets less money. There was a school of thought at that time, and one which is scientifically backed, that you will lose more from other sources by increasing fuel prices (in the form of inflation and reduced industrial output) than you will by giving out a certain subsidy for the fuel.

It really wasn't, in fact estimates showed that based on the prices set at that moment of time, Pakistan would run out of money to cover imports within a couple of months of time. It was always political, it was purposefully engineered just like so many other governments have done in the past to gain a political edge.

 

[hydrabadi_arab]

Reconnecting with the cronies he worked with to bankrupt Punjab and line his and their pockets.

Which is also why his son is meeting some Chinese investors in Lahore.

Which is why IK need to stop wasting time on dharnas and prepare for 20th July Punjab by elections. If PTI win those then they have government in Punjab so basically game over. PTI also need to get back in parliament.

Now that they are willing to increase prices it means there is 0 chance of early election just with Islamabad long march.

 

[Ghazwa-e-Hind]

I have just heard OPEC has increased production, which might decrease the crude oil inflation. Nevertheless, I am very very angry at this stupid mixed achar muraba at the moment.

Save your crocodile tears, Mr. Patwari.

You create 5 pro-PMLN threads every day with geo news (fake news) as source.