There will be no petrol in Pakistan, no vehicles will run! Pump owners raised their hands, warned the government


Oil companies said – the petroleum industry in the country is on the verge of ending.
Pakistan is facing a serious balance of payments crisis.
The situation has worsened due to the shortage of dollar in the country and the fall in the value of rupee.

Islamabad. Rising prices of flour and oil and economic crisis in the neighboring country Pakistan (Pakistan Economic Crisis) The circumstances related to are becoming more serious. Meanwhile, oil companies in Pakistan have warned that the country’s petroleum industry is on the verge of collapse due to increased trade costs due to dollar shortage and rupee depreciation. According to the report of the news channel Geo News, the government removed the limit on the dollar in order to meet the demand of the International Monetary Fund (IMF). Due to this, the Pakistani rupee has reached a historic decline in the international market at Rs 276.58 per dollar.

The IMF has imposed several conditions to restore the relief package, including a market-determined exchange rate for the local currency and simplification of fuel subsidies. The government has already accepted both the conditions.

Oil companies warned the government
The Oil Companies Advisory Council, in a letter sent to the Oil and Gas Regulatory Authority and the Ministry of Power, said that due to the fall in the exchange rate of the rupee, the industry has lost billions of rupees as the new rate is likely to be fixed for their letter of credit. The government has also imposed restrictions on letters of credit due to dwindling foreign capital reserves. According to the data of January 27, foreign capital reserves were reduced to $ 308.62 million, which is enough for only 18 days of imports.

read this also- Government sprinkled ‘petrol’ on inflation! Awam set fire to the pump, Sri Lanka-like hue and cry in Pakistan

Petrol price in Pakistan Rs 250 per liter
In this era of economic downturn, Pakistan is facing a serious balance of payment crisis, due to which the value of the rupee is falling rapidly and the prices of imported goods are becoming tremendously expensive. Recently, the prices of petrol and diesel were increased by Rs 35 in Pakistan. Because of this, petrol is being sold at Rs 250 per liter in the country. Angered by this decision of the government, people had set fire to the petrol pump in Lahore.

On the other hand, Prime Minister Shehbaz Sharif, who is trying to get rid of the economic crisis and get a loan, has said that the conditions put forward by the IMF are surprising. But it is compulsory to obey these conditions. Please tell that a delegation of IMF has reached Pakistan on Tuesday. This team will decide on February 9 whether to give bailout package to Islamabad or not?

(with input from language)

Tags: business news in hindi, economic crisis, Pakistan, petrol diesel price

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