MQM demands immediate retraction of petrol price hike

Government advised to decrease non-developmental expenditures instead of raising petrol prices.


Web Desk April 01, 2012

KARACHI: The Muttahida Qaumi Movement (MQM) Coordination Committee said that the increase in petrol prices is a crime against the public and the decision should be retracted immediately, Express News reported on Sunday.

The committee added that the government should cut down on its non-developmental expenditures instead of raising petrol prices which has become a huge burden for the public.

Earlier, the All Pakistan Transport Owners Association (APTOA) said that if the government did not retract its decision of raising Petroleum, Oil and Lubricants (POL) prices, transporters will have no choice but to raise transportation fares as it will not be possible to keep transport running otherwise.

The association added that the government raises fuel prices whenever it feels like, but does not allow them to raise fares.

These statements were in response to the government’s announcement earlier in the day of another increase in the POL prices.

For the first time in the country’s history, all three fuels – petrol, diesel and kerosene oil – will cost over Rs100 per litre effective Sunday (today). Price of CNG has also been raised by up to Rs11.55 per kg.

With a Rs8.02 hike, per litre petrol price has jumped from Rs97.66 to Rs105.68, according to a notification issued by the Oil and Gas Regulatory Authority (Ogra) on Saturday night.

Per litre price of high speed diesel was raised by Rs4.70 – from Rs103.46 to Rs108.16 – while the price of kerosene oil was raised by Rs5.29 – from Rs96.40 to Rs101.69 per litre.

The price of High Octane Blending Component has been raised from the current Rs126.87 to Rs135.81 – an increase of Rs8.94.

COMMENTS (28)

Salman Orangiwala | 9 years ago | Reply @Maria , thats the problem with the laymen Ever heard of a bull-whip effect ? The Per Barrel price of oil in the Int'l Market increases , do you know what the mechanism of Pakistan uses ? Do you ever know how much surcharge is ? Even how many surcharges are there ? Someone mentioned hedging the risk with a hedge instrument , which is a prevailing practice . Stop blindly protecting Zardari and Co. And @ M Ali Siddiqui , there was a hike in petrol price so you wont vote for MQM .....lolzzzzzz. Such a mindset .Go ahead make your day buddy ....hundreds of thousands like me will do , who never voted for MQM .
zehra | 9 years ago | Reply

when there is a cng strike then also the buses and rickshaws say cng is not there hence not plying on road, so technically since they are running on cng they cant raise the price so high saying it has crossed 100 coz cng is still not so.

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