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Fuel Price Hike Sparks Protests in Pakistan

BusinessFuel Price Hike Sparks Protests in Pakistan

The Pakistani government has raised the prices of petrol and diesel by ₹35 per liter, starting from January 30th, 2023. This increase in fuel prices is the result of rising global oil prices and the devaluation of the Pakistani Rupee.

According to the Ministry of Finance, the new prices of petrol will be ₹110.35 per liter, while diesel will be sold at ₹115.35 per liter. The government has also announced an increase in the prices of kerosene and light diesel oil by ₹25 per liter each.

The hike in fuel prices is expected to cause a domino effect on the prices of other essential commodities, including food and transportation. The government has promised to take measures to mitigate the impact on low-income households, but it remains to be seen how effective these measures will be.

The opposition parties have criticized the government’s decision, calling it an insensitive move that will put further financial strain on the already struggling masses. Protests have erupted in several cities across the country, with protesters demanding the government to withdraw the hike and provide relief to the people.

The increase in fuel prices is likely to have a significant impact on the country’s economy, as it will increase the cost of production and transportation, leading to inflation. The government has assured the public that it will take all necessary steps to stabilize the economy and control inflation, but the citizens remain skeptical.

In conclusion, the hike in fuel prices is a controversial move by the government that has drawn criticism and protests from various quarters. The full extent of its impact on the economy and the people of Pakistan remains to be seen.

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