Govt hikes petrol prices in Pakistan - Latest Updates
Govt hikes petrol prices in Pakistan - Latest Updates
Category
🗞
NewsTranscript
00:00When we were sitting here last night, the decision was made to increase the price of petroleum.
00:05I was surprised to see that it was 9.99 rupees.
00:099.99 rupees!
00:11I mean, if the Minister of Petroleum...
00:14You've been a little lenient with the people.
00:16A relief of 1 rupee.
00:17A relief of 1 rupee.
00:18It's a huge relief.
00:19A relief of 1 rupee.
00:20A relief of 1 rupee.
00:20Either they get it at the petrol pump,
00:22and the person goes and says that they're increasing it by 9.99 rupees.
00:251 rupee?
00:26Does 1 rupee even exist?
00:28God knows what's in their mouths.
00:31Okay, are people's salaries increasing every 15 days?
00:35Should we think about this?
00:37Or should we say that it's increasing quarterly?
00:40They say it's increasing half yearly, but that's not happening.
00:43But the petrol prices are increasing.
00:46Now, it's better to say that it's 10 rupees instead of 9.99 rupees.
00:50If you think about it, the fee litre has increased by 10 rupees.
00:53So, what will be the trickle-down effect of this?
00:56It will be that everything will become expensive.
00:59Whether it's public transport, or you go to buy vegetables.
01:03If you buy anything, they will explain to you that
01:05because the supply is on the vehicles,
01:08and for that, petrol and diesel are needed.
01:10So, that's why all this has been increased.
01:13Okay, we're not just talking about petrol here.
01:16Let me tell you about high-speed diesel ahead.
01:186 rupees 18 paise has been increased.
01:20So, the new price of diesel has become 283 rupees 63 paise per litre.
01:25The price of oil has been increased by 1 rupee.
01:28And the price of petrol has increased by 9 rupees 99 paise.
01:34So, the new price of petrol has become 275 rupees 60 paise per litre.
01:38Imagine that.
01:39The thing is that when the prices are low, there's no trickle-down effect.
01:45But as soon as the prices are low, there's a big impact on our profitability.
01:49And our transporters become active, everyone becomes active, even the vegetable vendors.
01:55Yesterday, we were talking about electricity.
01:577 rupees 12 paise has been increased.
01:59At this point.
02:00Okay.
02:01And your slabs are also different.
02:03It's not that you have only one fee unit for all the slabs.
02:06Slab-wise, if you go below 200, there are some other slabs.
02:10If you go below that, there are some other slabs.
02:12So, let's ask Shoaib Nizami
02:14what he will tell us about all this.
02:16But Anwar Khan is also with us.
02:18Okay, let's ask Shoaib Nizami what's happening.
02:21Shoaib Nizami, tell me, did you get a chance to fill your tank after getting the news?
02:29Normally, this doesn't do anything, but it gives you a little relief for once.
02:34So, did you benefit from it or not?
02:39Yes, because you said in the morning that the day should start with good news, but it's not possible for us.
02:44Especially since the Himalayas started, it's continuously bringing bad news.
02:49And this 18 rupee instalment...
02:51Brother, this is not a financial year, it's a financial year for the people.
02:56So, it will be a financial year for the rulers, but for us, it's a financial year.
02:59Because 18% GST is on all the spices, homeopathy medicines,
03:03uranium medicines, all the lentils that are packed,
03:06all the rice that are packed, the milk that is in the box right now.
03:11So, this 18 rupee instalment is here as well.
03:13This 18 rupee petrol has become expensive since the 1st of July.
03:16Earlier, it was Rs. 7.45, now it's Rs. 10.
03:21It's not Rs. 5, please correct yourself.
03:25It's Rs. 9.99.
03:26It's a relief of Rs. 1, Shoaib.
03:29Yes, yes.
03:30It's a big relief.
03:31Yes, it's a relief of Rs. 1.
03:33So, it's almost Rs. 10.
03:35Similarly, the diesel has become Rs. 18 per litre in these 15 days.
03:40And the international prices, if we look at the petrol prices,
03:44it has increased from $95 to $98.
03:51Similarly, the diesel price has increased from $102 to $105.
03:56So, it was expected that petrol will be around Rs. 6 to Rs. 8.
03:59And diesel is also expensive in this range.
04:02But it's a little higher than expected.
04:04And now the question is that the government has increased the levy from Rs. 60 to Rs. 70.
04:09Has it been implemented or not?
04:12If they had implemented it, then the price would have gone up.
04:15But the people are getting out of it continuously.
04:19Tell me...
04:20Yes, it's still pending because the people are continuously...
04:24Okay, I basically wanted to know,
04:25Anwar bhai is also present here, but Shoaib, taking advantage of your presence,
04:29what is the plan?
04:31Now you are saying that the levy hasn't been implemented yet.
04:33If the levy is implemented, then I feel that the prices will go above Rs. 300.
04:38This is still pending, right?
04:42Yes, our target for the levy is to get around Rs. 1260 billion from PDS.
04:48And this is a very aggressive target.
04:50And this is in the same situation that we get the entire levy.
04:54But you can see that the demand for petrol is increasing in Pakistan.
04:57The demand is increasing because when the population increases,
05:01the use of gas also increases.
05:02So, they expect to get the levy.
05:06If the levy of Rs. 10 was implemented immediately,
05:10then the rate would have been around Rs. 185-290.
05:16So, the levy hasn't been increased yet.
05:18But apart from this, the overall inflation will increase because
05:21the transport workers are saying that they will have to increase the rent.
05:25The vegetables that are coming from the markets in the morning,
05:30their rates will be increasing.
05:31Similarly, when the school opens in August,
05:34the pick and drop service workers will stop the production of petrol
05:37and ask for more money from their parents because their expenses will not be met.
05:42The transportation costs in the offices will increase.
05:46All the offices will not be viable for them.
05:49Small businesses will not be viable for them.
05:51So, fuel and fire, petrol, electricity and gas prices are always fuel and fire.
05:55Fuel and fire.
05:57Stay with us.
05:57Shoaib, Anwar is also with us.
05:59Anwar, it's very hot in Karachi.
06:01You have been standing there for a long time.
06:03Tell us, what are the people saying in this situation?
06:07The increase in electricity, petrol and gas prices will be revisited after 15 days.
06:13What should the people do?
06:14Their pockets are empty now.
06:17They have to pay the electricity bill.
06:18They have to bear the cost of electricity.
06:20They have to face a new problem.
06:22What are the people saying?
06:26If we talk about the new price of Rs. 275.60,
06:30and the Rs. 1 that you mentioned in the beginning,
06:33saving this Rs. 1,
06:34obviously, when someone comes to the petrol pump to fill up the petrol,
06:37if they don't take back Rs. 1,
06:39then you can be sure that in Karachi,
06:41crores of rupees are collected every day.
06:44These crores of rupees are the ones that are added to the petrol.
06:47We were crying for just one rupee.
06:48Let's go.
06:50Just one rupee.
06:51Yes, absolutely, and if you talk about it,
06:53the people who will be directly affected will be common people.
06:55The direct result of this is that
06:57the rates of vegetables that have come in Karachi early in the morning
07:00are shocking rates.
07:01They are shocking rates.
07:02Today, the price of garlic and ginger has increased from Rs. 600 to Rs. 900 per kg.
07:08If I tell you the price of cabbage,
07:09the price was Rs. 300 yesterday and it has increased to Rs. 350.
07:13And if we talk about capsicum,
07:15which is generally used in different dishes,
07:20yesterday its price was Rs. 485 per kg,
07:23which has increased to Rs. 500 per kg.
07:25So, I am just telling you a few things.
07:28And in recent days, after about 10-15 days of waqf,
07:32parents are going to face a dangerous financial burden.
07:35The lakhs of children who go to different schools right now,
07:38when the schools open,
07:39with the June-July fees,
07:40the parents, the van drivers of the school,
07:43in general, the situation is that
07:45the parents have started getting these things via WhatsApp
07:48that they have definitely asked for 40-50% increase in their school van fees.
07:54So, if you look at the current situation,
07:55if you look at the bills for electricity, gas, and daily expenses,
07:58the prices of petrol and gas are directly affecting the common man
08:02and its effects are affecting the common man.
08:04This is a very difficult situation.
08:07This is an unimaginable situation.
08:11Anyway, thank you very much, Anwar Khan.
08:12Shoaib Nizami is with us from Islamabad.
08:14And after the electricity bills,
08:16the increase in the base price,
08:18after that, the petrol pump has also been dropped.
08:21And this is not it.
08:23The picture is still there.
08:25Because the target of the levy,
08:27because the government is not going to reduce its expenditures,
08:30their expenses are not going to be reduced,
08:31they are not going to reduce the protocols of the government officials.
08:35Let's go to the ministers,
08:37and then to the politicians, to the rulers.
08:38So, they will keep increasing the tax rate and not increase the tax net.
08:40So, they will not increase the tax net either.
08:42They will not touch the land.
08:43Our country used to be a food-secure country.
08:47Now, it has become an insecure country.
08:48Most of our things are being imported, including wheat.
08:52Our Dharamdi bill has also increased,
08:53but despite that,
08:55our agricultural sector is not being touched.
08:58After that, retailers are not being touched.
09:00After that, if they go to impose tax on any sector,
09:03then they protest and the matter is returned.
09:06But who gets trapped?
09:07All of them have their own mafias.
09:09And the salary class, it is very easy.
09:11It is very easy to impose more tax on the salary class.
09:14And the way we are seeing here,
09:16that taxes are being imposed on taxes,
09:18and then there is this inflation,
09:20in which the petrol price increases,
09:22sometimes the electricity bill increases,
09:23sometimes some other small bills increase.
09:26So, this creates more burden on the people.
09:29No one talks about its relief.
09:30And then the preferences seem to be different.