There can be a big improvement in the price of petrol and diesel if the subsidy is waived.
Pakistan is currently facing serious economic challenges. The treasury of the government is completely empty. If the government removes the subsidy on petrol, diesel and kerosene, then the price of diesel will reach up to Rs 230.
The government has definitely changed in Pakistan, but due to this its economic condition (Pakistan financial crisis) has not undergone any changes. The people there are suffering from inflation. Government treasury is empty. In such a situation, he is appealing for help from different international agencies. At present the Government of Pakistan is the International Monetary (Pakistan to IMF) is trying to get a loan of $ 6 billion from the fund. Apart from this, the government of Prime Minister Shahbaz Sharif to reduce government expenditure, Subsidy on petrol, diesel and kerosene ,Subsidy on Petrol, Diesel and KeroseneThinking about reducing it gradually.
There the price of petroleum changes every 15 days. A new price will be released today which will be applicable from tomorrow. A proposal in this regard has been sent by the Oil and Gas Regulatory Authority. Announcement of reduction in subsidiaries is possible today. Federal Defense Minister Khawaja Asif is currently in London with Prime Minister Shahbaz Sharif. There, discussions are being held with party chief Nawaz Sharif regarding decisions on all issues. It is believed that the government can take major decisions in the next 48 hours to deal with the financial crisis.
Government gives huge subsidy
According to the report of Reuters, the government of Pakistan gives heavy subsidiaries on petrol, diesel and kerosene. If separate subsidiaries are waived, then the price of one liter of petrol in Pakistan will be Rs 190. At the same time, the price of diesel will reach Rs 230 per liter and the price of kerosene will reach Rs 176 per liter.
Petrol will reach Rs 190
At present, there is a subsidy of Rs 29.60 per liter on petrol. According to sources, if the price of petrol is not increased, then from May 16, the government of Pakistan will have to give a subsidy of Rs 45.14 per liter of petrol. On waiving the subsidy, petrol will reach Rs 190.
Diesel will get Rs 230
At present, a subsidy of Rs 73.04 per liter is available on diesel. A subsidy of Rs 43.16 per liter is available on kerosene. If the price is not increased from May 16, then the burden on the government will increase. In that situation, the government will have to pay Rs 85.85 per liter on diesel and Rs 50.44 on kerosene. If the government waives off the subsidy, then diesel will get Rs 230.
Light diesel will be Rs 186
The government currently gives a subsidy of Rs 64.70 per liter on light diesel. It will increase to Rs.68. If the government removes the subsidy on light diesel, then its price will be Rs 186.31 per liter.