Certainly a big test for the caretaker government, which has taken over not a long time back as it is faced with the challenge of announcing considerable increase in prices of petroleum products (POL) tonight, reported 24NewsHD TV channel on Thursday.
What could be described as nothing short of a bombshell, there are fears that petrol price may cross 300 mark after a hike by Rs9 per liter, that of diesel by Rs16 per liter, and Kerosene Oil by Rs13 per liter.
Similarly, the price of Light Speed Diesel may go up by Rs9 per liter.
Giving reasons for likely increase, refinery officials have said that extraordinary hike by Rs14.51 in the US dollar’s price in the last two weeks is one of the factors. Besides that, they have informed, the price of crude oil in the international market has also gone past 85 dollars per barrel due to which increase in POL prices is on the cards.
They have explained that now the dollar’s rate in the interbank is over Rs304.
They have further said that increase in POL prices will also lead to increase in fares of air travel.
However, Caretaker Prime Minister Anwaarul Haq called a meeting on the prices of electricity and petroleum products at PM House today. The ministers for finance, energy, petroleum and officials concerned will participate in the meeting.
It is expected that after the meeting the government will announce relief in electricity bills and changes in the prices of petroleum products from September 1.
Reporter: Ashraf Khan