The sitting and 22nd prime minister of Pakistan, Imran Khan, who succeeded to power on August 18, 2018, has showered his mercy on Pakistanis. Prime minister, who usually is designated as “U-turn Khan” by the opposition, has once again wreaked havoc on the general public.
Ever since the government of PTI came into power, Pakistan’s economic condition is getting worse from the rising rate of dollars to petrol. Besides, the trembling situation is not only economic but social too. Social crises of poverty and crime have soared. Resultantly, the economic sword of Damocles is hanging over the head of the already poverty-stricken class.
To our utter dismay, as an Eid gift to the nation, Pakistan Tehreek-e-Insaf (PTI) led government has announced an increase in petrol prices. Additionally, a price hike in electricity units is also proclaimed. Ever after, the government of Pakistan Tehreek-e-Insaf (PTI), the public have only seen price hikes and an increase in taxation.
As per sources, the Government has decided to increase electricity prices by Rs2 per unit. The rise in the prices of electricity units will put a further weight of Rs200 billion on the general public. Moreover, the measured sum of Rs200 billion will be credited from all consumers.
Reportedly, the prices will be raised after receiving permission from the National Electric Power Regulatory Authority (NEPRA). On the contrary, denizens of Pakistan have repudiated the resolution and mourned that it is not permissible for them to pay such high prices in terms of electricity bills.
Stats and figures on electricity prices per unit
Articulating at a press conference, Minister for Power Omar Ayub Khan stated the initial rise of about Rs1 per unit would be enforced over the next months. The remaining hike of RS2 2.25-2.50 would follow suit in coming months.
The Minster also testified that the former government had provided full power supply to certain areas to get votes. The minister said, “Currently, the circular debt is at Rs803bn and we would bring it down to Rs250bn by the end of December,”. He further asserted “We are also going to issue a second round of Rs200bn Sukuk bonds.”
On renewable energy, the minister said, “We are targeting to increase the share of renewable in our energy mix to 20 percent by 2025 and then to 30pc by 2030; While adding a 30pc share of hydel sources, it would reach up to 60p”. The Minister further said, “This would reduce power cost and our dependence on imported fuel and expenditure on its import for power generation.”
Some stats and figures regarding petrol prices
Besides, petroleum prices are anticipated to extend by up to 12.8percent owing to change in international fuel prices. Reportedly, a summary was submitted to the Petroleum Division. In the summary, the Oil and Gas Regulatory Authority (OGRA) suggested high-speed diesel be increased by Rs11.17 per liter or 10percent and petrol cost be increased by Rs11.98 per liter or 12.8percent for the coming.
Moreover, the Oil and Gas Regulatory Authority (OGRA) has also demanded a hike in rates of kerosene oil of Rs6. 65 per liter or 7.7percent. Additionally, the addition of Rs6.49 per liter or 8.4percent has been prescribed for light diesel oil (LDO).
If the state accepts this proposal, then the price of diesel would raise from the existing Rs111.43 to Rs122.60 per liter, and the rate of petrol would be increased from Rs92. 89 to 104.80 per liter.Whereas, light diesel oil (LDO) price would hike from Rs77. 54 to Rs84.03 per liter; the price of kerosene oil would inflate from Rs86.31 to Rs92.96 per liter.
According to our source, the Finance Division will declare future rates of oil after taking approval from Prime Minister Imran Khan
Huge hue and cry were mad on social media regarding the government’s increase in oil and electricity prices
Senator Sherry Rehman scolding the government
— SherryRehman’sOffice (@SRehmanOffice) May 29, 2019
Rightly said, hold on!
OGRA proposes Rs14 per litre hike in petrol prices https://t.co/UbPrK1tsIp
— Hasan Bilal (@HasanBelal8) May 29, 2019
“EIDI” for the Nation!
— Shirmeen Khurram (@KhurramShirmeen) May 28, 2019
Supporters of Naya Pakistan here you go, take your EIDI
Petrol prices expected to be increased by 9 rupees before Eid. Naya Pakistan fanbois can take it as Eidi from handsome Prime Minister.
— Anas Tipu (@teepusahab) May 28, 2019
Electricity Prices: This is not a “NAYA PAKISTAN”
— Raja Adnan (@RajaAdn80559082) May 25, 2019
The pretext of clearing debts would not work any further. People are now asking, if clearing debt was true, then why has the government gone to the IMF? And, if they went, then why a hike in prices? The resignation of Asad Umar and the appointment of Syed Muhammad Shabbar Zaidi as Chairman Federal Board of Revenue (FBR) did no good with the public as well!
Enough of the blame game on former governments, Imran Khan needs to address the nation on the drop of a hat. Otherwise, the current increase in prices would soar the public resentment against the incumbent government. Hopefully, the Prime minister would take pragmatic steps to alleviate the ongoing crises.