Chaudhry was briefing the parliamentary committee on oil prices. The meeting was chaired by Rana Tanveer, who later walked out in protest over the upcoming price hike.
The petroleum secretary had informed the committee that keeping in view global prices, the government will have to raise the rates accordingly.
Tanveer said that the government gave them “lollipops” every time and the prices would still keep going up. He walked out of the meeting in protest.
Finance Minister Hafeez Sheikh then arrived and tried to take the committee into confidence over the decision.
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@well-wisher Petrol costs Rs. 70 per litre in India? 70 INR converts to around 130 PKR. This means petrol is much cheaper in Pakistan.
@ Sattar
You seem not to be effected by price hike, however a common man does. We haven't seen the rulers leave aside any of their "Ayashis" but heaping up misery of common man on daily basis. Yes they can reduce petroleum levy on pet products to alleviate financial pressures on the poor.
@nadir: the oil is trading around $105 and not $121...but then at the last price hike it was trading around $98...the price must go UP guys...
Why is everyone complaining about the price going up! I have not seen any less cars/bikes on the road because of the recent price hikes and neither have I seen mass protests about the price hike... I am sure the masses can continue to pay with a big smile... Just remeber one thing, we as a nation r used to bending over and taking it...
I agree with Umer. If prices go up globally, its only logical that prices go up in Pakistan. Why doesn't price go down when prices were down globally? Someone, please explain this! I am really interested in knowing the Government 'logic' in this respect.
@ Seema Sheikh
People start looking towards Army just because these politicians a much bigger cheats. Its a fact that Pakistan economy has always improved during military rules and got destroyed in civilians regiemes. Can any one deny the economic contributions of Ayub Khan or Pervaiz Musharraf. Improved economy means more jobs and more jobs means improvement in the life of poor. Can any sane person appreciate these four destructive years of this Govt. Just look at the Rupee vs dollor parity. it was Rs.60 to a dollor during Musharraf Govt which is Rs.92 to a dollor now. These so called well wishers of poor have infact forced the poor to live on one meal a day and that too hardly available
The PPP Government has taken away everything they promised i.e. "Roti, Kapra and Makkan" from almost all except the elite.
I wonder why are they still expecting a positive response from the public.
So people will suffer more.The elected leaders will do nothing. Why waste time
Gas prices go up all over the world. Why are so many people in Pakistan so childish when it comes to the necessity of raising petrol costs just like they do in the global market? Do they think they should get it for free when everyone else in the world has to pay higher prices?
good going...
there was a SMS Joke that read something like this...
lets see who crosses 100 first: Dollar rate, Tendulkar centuries, or Petrol price...
I think Petrol is gonna outrun rest two by fair margin.
@well-wisher: But India is democracy, they do not have regular interruption from their army, their judiciary do not give cover or justify army coups, and during army rule we always fight American war, so we have done very little progress, India moved ahead of us in progress. Their economy is stable and their rupee is stable. Pakistani economy stay stable till American dollar flows in till we fight their war and provide with bases, CID kidnapped ppl from our sovereign land and some sold them for bounty. When democracy comes it fights with all spoils of military rules.
The Nation is doing every thing for the Government, but PPP Government is not doing any thing for the Nation?
Instead of bring the inflation down, during the present tenure of PPP government the inflation has increased by more than 300% including the prices of petroleum products.
Democracy is the best revenge. People of Pakistan please give vote to these so called democratic parties again in 2013 so that you will get Patrol for 200/ liter. Military rulers were always good for Pakistani Economy and these democracy champions only come to fill their pockets in the name of democracy.
I'll bet anything that the fastest way to fix our problems is to bring the salaries & perks of these government officials down to an average Pakistan's level.... I know its wishful thinking on my part :(
So, the price goes up when there's a rise in the global market, but it doesnt come down when the price is low over there. WHY NOT?!
This is really annoying, How much more money can you steal from the people?
This is beauty of democracy
Trying to control energy prices when your required to buy fuel from outsiders was a stupid decision by the govt -- in effect they were trying to buy votes and now that they can no longer afford to subsidize energy they are going to justifiably face their wrath. Time for the govt to fess up and tell the people that there utility prices are going to reflect the market value of fuel and if they have an issue with that they can blame OPEC.
@Moeed: Well, the prices of petrol and diesel in India are Rs 70 and Rs 40 per litre respectively and value of American dollar is Rs 49.22 presently. You may now compare the prices in Pakistan vis-a vis value of Pakistan Rupee with India.
:(
Did anyone check the price of a barrel of oil lately? It is nearing $110. With the Pakistani rupee depreciating in value and the price of oil going up, what magic can the government do to keep prices down? Fuel prices in Pakistan is still a great deal cheaper than in the neighbouring countries.
And you couldn't think of any word other than "bomb" to explain the price hike? Not to mention the image.
er last time there were objections about making such premature disclosure about the proposed hike as "it will support hoarders of petroleum products" ...why the same mistake again??????
So much for getting excited about Iran standing upto America...now that oil prices have hit $121, prices at the pump have to go up...now waiting for everyone to blame corruption.
I am not sure if the MoF and FM are aware that we can hedge against oil price volatility by using oil futures. ??? Maybe they should ask for advice.
People r more interested in talking about missing persons, Army, America, the Outlaws and even Veena Malik but no one care what may hit them directly.
No wonder how you got incumbent rulers.
You probably would get an explosion if you refueled your car in the manner shown in the picture :p . The fuel goes into the gas tank and not straight into the engine.
I think I should open a bicycle or motorcycle business, because in no time everyone will transfer from cars to motorcycles :)
Why? Just why? :(