Oil bomb also detonated

ISLAMABAD - As if electricity tariff hike wasn’t enough, the government, to rub salt into people’s wounds, also increased prices of petroleum products with effect from today (Tuesday).
Petrol price has gone up by Rs4.12 per litre, kerosene by Rs2.14, diesel (HSD) by Rs4.69, light diesel by Rs2.83 and high octane blended component (HOBC) by Rs5.57. With this massive hike, the new per litre price of petrol would be Rs113.25, HSD Rs116.95, LDO Rs101.24, kerosene Rs108.13 and HOBC Rs143.90.
Earlier, Ogra dispatched reviewed price summary to the ministry of petroleum for final approval, which was determined by the oil marketing companies (OMCs).
The common people have demanded withdrawing the decision. They fear that petrol price may hit Rs150 per litre in a few months.
Faisal Buzdar said: “Transporters will increase fares, vegetables, fruit, chicken and milk sellers will also increase rates now.”
Amina Akram, a working woman, said that people were expecting a slash in prices of petroleum products, electricity and gas rates, but the government shattered all our hopes.
Shahid Magsi, a businessman, said that the frequent increase in POL prices had raised the cost of production of export items, making it very hard for the exporters to compete with India, Taiwan, China and Thailand in the international market. He said such steps of the government would ultimately result in the sharp decline of exports because the foreign customers were not ready to buy expensive items.