The government has reduced the price of high-speed diesel and light-speed diesel by Rs2 and Rs4.68 per litre, respectively, for the next 15 days from May 16. The new price of high-speed diesel will be Rs254.64, and light-speed diesel will be Rs150.65 per litre. The price of kerosene has also been reduced, while the price of petrol remains the same.
Despite the decline in international oil prices, the government of Pakistan has not passed on its benefits to consumers for the third time in the last two months. The reason for this is said to be the loss of Rs34 billion faced by the oil industry in the last fiscal year.
The government is currently charging Rs96 per litre on petrol and high-speed diesel, its biggest revenue sources. Petrol is mostly used in small vehicles, rickshaws, and two-wheelers or goods vehicles.
If its price remains unchanged, middle and low-income people will continue to be affected. High-speed diesel is used in heavy transport, such as trains, trucks, buses, tractors, and threshers, which can increase the prices of vegetables and food items.
Amin Wastoo
Koshab
