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Opposition and allies reject oil price increase

ISLAMABAD - The government raised the POL prices by 5.4 to 9 per cent from Saturday, inviting immediate flak from the opposition and allies.

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Published: Mon 3 Jan 2011, 1:14 AM

Last updated: Tue 30 Jun 2020, 3:53 PM

The media headlines described the petrol price increase as a “New Year’s gift of petrol bomb to the nation”.
Political leadership and business and industrial circles slammed the hike, fearing it would add to the miseries of common man groaning under soaring inflation.
The price of petrol was increased by Rs6.71 per litre from Rs72.96 to Rs79.67, diesel by Rs4.25 per litre from Rs78.33 to Rs82.58, High Octane ?Blending Content (HOBC) by Rs7.79 per litre from Rs86.67 to Rs94.24, light diesel by Rs4.36 per litre and kerosene oil by Rs4.04 per litre.
“The massive increase in the POL product prices will increase the current inflation rate. The increase in petroleum prices, particularly in diesel, will also lead to a massive increase in transportation cost of everything, particularly kitchen items, making the life of common man more miserable,” main opposition leader Nawaz Sharif said.
Coalition partners, including the Awami National Party (ANP) and the Muttahida Qaumi Movement (MQM), also criticised the increase urging the government to withdraw it.
“With continuous increase in inflation that is hovering around over 15 per cent, the purchasing power of the masses has eroded to a large extent while the political leadership seems indifferent to their problems,” Sharif observed.
A spokesperson for the Ministry of Petroleum and Natural Resources explained that the increase in prices of petroleum products was due to a hike in the international market and its impact on domestic pricing.
The ANP and the PML-N have presented adjournment motions in the Senate and the National Assembly, TV reports said.
mafzalkhan@yahoo.com

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