Khyber Pakhtunkhwa’s Finance Adviser, Muzammil Aslam, has voiced strong opposition to the federal government’s recent decision to increase petroleum prices by Rs55 per litre. He cautioned that this sharp rise would place an even heavier financial strain on ordinary citizens who are already grappling with economic difficulties. His remarks come amid growing concerns over inflation and the cost of living in Pakistan.
In his detailed statement, Aslam pointed out that the government raised the prices of petroleum products without adjusting the existing tax structure or revising the petroleum development levy. He emphasized that the levy imposed on petroleum products has now surpassed Rs100 per litre, contributing significantly to the overall fuel price escalation. This combination, he argued, has driven fuel costs to unprecedented levels in the country’s history.
Highlighting the current situation, the adviser noted that petrol prices have climbed to Rs321 per litre, while diesel has reached Rs335 per litre. These figures represent record highs and have sparked widespread concern about the affordability of essential fuel for the average Pakistani. Aslam stressed that such steep increases would disproportionately affect low-income families, many of whom are already struggling to meet basic needs due to the prevailing economic challenges.
He further elaborated on the broader economic context, revealing that poverty in Pakistan has surged to nearly 45 percent, a staggering figure that underscores the depth of the crisis. Additionally, unemployment rates have soared to their highest point in over two decades, exacerbating the hardships faced by millions. Against this backdrop, Aslam questioned the rationale behind the government’s pricing policies, especially since international oil prices currently hover around $80 per barrel.
Expressing concern about the potential future trajectory of fuel prices, the finance adviser posed a critical question: if global oil prices were to escalate to $120 per barrel, would the government respond by pushing petrol prices to an alarming Rs500 per litre? This hypothetical scenario underscores the precariousness of the current situation and the urgent need for a more sustainable and compassionate approach to fuel pricing.
As Pakistan continues to navigate complex economic challenges, the debate over fuel pricing remains a contentious issue. The federal government faces mounting pressure to balance fiscal responsibilities with the welfare of its citizens, particularly those most vulnerable to inflationary shocks. Meanwhile, voices like Muzammil Aslam’s highlight the growing demand for policies that prioritize economic relief and social stability.
