Pakistan in BIG trouble, skyrocketing prices of THIS crosses 'Double Century' mark

Pakistan's Finance Minister announced the price hike, saying the former government had unnecessarily taken the burden of subsidies on the government's shoulders and reduced the price of fuel. But the current government can't bear that burden anymore.

New Delhi: After Sri Lanka, is Pakistan facing an economic crisis this time? In a recent announcement, economic experts are seeing a cloud over the sky. Why not, the Government of Pakistan has said that it no longer has the power to subsidise fuel oil. As a result, the price has increased a lot in one stroke. Petrol is being sold in Pakistan from Thursday at the rate of Rs 233.89, Diesel at 263.31 and kerosene oil at 211.43. 

Pakistan's Finance Minister Mifta Ismail and Petroleum Minister Musaddaq Malik announced the price hike, saying the former government (Imran khan's government) had unnecessarily taken the burden of subsidies on the government's shoulders and reduced the price of fuel. But the current government can't bear that burden anymore.

The Finance Minister said Pakistan has long accepted a loss of 24 rupees 3 paise per liter of petrol, 59 rupees 16 paise on diesel, 39 rupees 49 paise in kerosene and 39 rupees 16 paise on light diesel oil for a long time. In May, the loss increased to Rs 12,000 crore. Where it costs one-third of it to run the government. However, economists fear that if the price of fuel increases, the prices of other commodities will also increase rapidly.