Pakistan hikes petroleum prices by Rs 8.14 per litre

Islamabad [Pakistan], November 5 : Prime Minister Imran Khan led-government has increased petroleum prices by up to Pakistani Rupees 8.14 per litre, local media reported on Friday.
The decision was announced on Friday by the ministry of finance. The prime minister had early this week put on hold the increase in the wake of protest by the Tehreek-i-Labbaik Pakistan, reported Dawn.
On the basis of tax rates, import parity price and exchange rate, the government increased the price of petrol and high-speed diesel by Rs 8.03 and Rs 8.14 per litre, respectively. Similarly, the prices of kerosene and light diesel oil were increased by Rs 6.27 and Rs 5.72 per litre, respectively, said the Pakistani publication.
This comes after Imran Khan on Wednesday announced "country's biggest-ever" subsidy package worth Rs 120 billion, providing 30 per cent discount on ghee, flour and pulses to support 130 million people by ebbing away from the impact of inflation.
Shortly after Khan's announcement, opposition leaders had criticised the move and had called it an "acceptance of the government's failure" and "nothing but a joke", said the Pakistani publication.
Taking to Twitter, PPP Chairman Bilawal Bhutto-Zardari had said that the PM's package is "too little for 200 million people," Geo News reported.
Following suit, former senator and Pakistan Peoples Party (PPP) leader Sherry Rehman had termed PM Imran Khan's address to the nation a "bizarre speech", and called the premier the "Blame Minister of Pakistan".