2016 and the new petrol prices in Pakistan

Prime Minister Nawaz Sharif’s announcement to keep the prices of petrol unchanged annoyed dwellers of the twin cities Islamabad and Rawalpindi instead of pleasing them; as they were expecting considerable decrease in the commodity price on the onset of 2016.

People slammed the government’s decision and demanded the government not to deprive the masses of a price decrease benefit, a survey conducted by Pakistan Today revealed.

The resident had anticipated remarkable cut in the commodity price due to massive decline in its price in the international market.

Gulzar, a taxi driver was upbeat that the government would give some good news on the eve of the New Year by slashing petrol prices, but was shocked to know that the commodity price would remain intact.

Tahir Jamil a Quaid-e-Azam University student said that he was shocked after reading the news of a summary sent by OGRA demanding increase of petrol price by Rs. 2.17 per litre, when there were other reports that the price of the commodity could be decreased by over 2 rupees.

Arsalan, an NGO worker, travels on a bike daily and was concerned about the unchanged prices. He, however, was pleased to know that the government is all-set to decrease prices of petroleum products except petrol considerably, as it would eventually bring down the sky-rocketing-inflation to some extant in the country.

According to the reports, Federal Minister Ishaq Dar announced that the petrol prices will not be increased for the month of January 2016.

Government of Pakistan lowered petrol and diesel prices by ten percent during the course of 201 while in the international market the prices fell by 37 percent.

Experts have said that the government has filled up the national treasures as well as transferred the relief to the people.

But Prime Minister Nawaz Sharif has given New Year’s gift to the people of Pakistan by announcing that the petrol prices would remain unchanged for the month of January 2016.

He said that in the matters related to people of Pakistan, there should be no politics involved in it.

Oil prices rose on Thursday but fell as much as 35 percent for the year after a race to pump by Middle East crude producers and U.S. shale oil drillers created an unprecedented global glut that may take through 2016 to clear.

Oil and Gas Regulatory Authority (OGRA) on Wednesday recommended that the petrol price be increased.

OGRA in its summary sent to the Ministry of Petroleum, recommended the petrol price to be increased by Rs2.17 to Rs78.43 per liter.

However, Ogra had proposed reduction in prices of other petroleum products.