British Broadcasting Agency, rejects Shehbaz Sharif government claims, it said that the oil prices have actually decreased in the global market.
Petrol Rs 10 per liter cheaper: Global market has slumped, Ishaq Dar’s no wonder Brent crude oil has reached 81.2 dollars per barrel, which exceeded 100 dollars earlier this year. Dar has failed to solve economic problems and bring the dollar under control. British Broadcasting Agency reports.
The decision to increase or decrease the prices of petroleum products in Pakistan has always been a big news because this decision has a direct impact on the life of the common man. In a special address on television, he claimed that the government is taking this decision to give relief to the people.
The British Broadcasting Agency, while rejecting the claim of the Shehbaz Sharif government, has said in its report that the oil prices have actually decreased in the global market and Brent crude has reached 81.2 dollars per barrel, which exceeded 100 dollars earlier this year. was done. The report states that since the country’s political and economic scenario has been revolving around the prices of petroleum products and now any decision in this regard becomes controversial, Finance Minister Ishaq Dar’s decision to reduce the prices of petroleum products. It has been announced that according to this announcement, the price of petrol, diesel and kerosene will be reduced by Rs 10. The new price of petrol has become Rs 214 and 80 paisa per liter while light diesel oil has become Rs 169.
The report said that there are petroleum levy commitments made by Pakistan to the IMF which do not appear to be fulfilled in the coming months due to the price cut, which could lead to a significant reduction in petroleum products in Pakistan. Ishaq Dar Petroleum He announced the reduction in the products in an address on TV and said that Prime Minister Shahbaz Sharif wants maximum relief to be transferred to the people.
It should be noted that the Pakistan Tehreek-e-Insaf government had given subsidy on petroleum products a few months before the no-confidence motion, when oil prices were increasing in the global market. This decision was against the conditions of the IMF. But after the success of the no-confidence motion, the PDM government initially took a few months to reverse the decision.
However, before this year’s budget, a step-by-step increase in prices was announced, due to which the country saw an increase in the rate of inflation, and the then finance minister, Miftah Ismail, faced criticism. Ismail submitted his resignation to the Prime Minister and Ishaq Dar was appointed as the new Finance Minister of Pakistan. In this regard, Miftah Ismail gave a harsh reply to Ishaq Dar many times after criticizing himself.
The return of former finance minister Ishaq Dar was announced by the PDM government, at that time Ishaq Dar promised to stabilize the value of the rupee against the dollar and reduce the prices of petroleum products. This is the third time since the arrival of petroleum products that prices have been reduced, but they seem to have failed to bring the dollar under control and revive the country’s economy.
The report of the British Broadcasting Corporation said that Pakistan’s foreign exchange reserves are rapidly decreasing and according to experts, the next installment of the loan from the IMF is not being given due to the violation of the conditions, due to which Pakistan Economic problems are increasing.
