Another bombshell is set to drop at the already inflation-hit masses, as the ruling coalition government is likely to jack up POL prices up to Rs 5.35 per liter with effect from the start of next month.
Sources privy to the development informed TheNation that the incumbent government is set to give a hike up to Rs 5.35 in the prices of petroleum oil and lubricants (POL) products from December. This massive surge is calculated after measuring the impact of the price of Gulf crude oil, which has shown an upward trend from $105 and has now reached $112 per barrel till this effect. They informed that a massive surge of Rs 5.35 per liter is likely in the price of Light Diesel Oil (LDO) while the price of high-speed diesel (HSD) oil is set to go up by Rs 4.32.
A boost worth of Rs 1.20 per liter in the price of petrol is also near to play while a massive hike measuring Rs 4.50 per liter in the price of kerosene oil is expected next month. However, a decline of Rs 1.35 per liter is possible in the price of high-octane blended component (HOBC), the sources added.
Economic pundits at the same time argue that this expected surge in POL prices would unleash a new tsunami of price hike for Pakistanis and would also make the mobility literally unaffordable for commoners. Furthermore the likely fresh hike in oil prices pushing up the overall inflation and making it all the more harder for the common man to meet both ends. The expected increase in price will eventually affect everybody regardless of their status but it will exclusively affect the salaried class and the underprivileged sections of the society more so than the others. There will be further increase in inflation by the risen prices of oil products, and our industrial production will face more hindrances, which are already under the adverse effects of gas and electricity shortage. However, the fresh increase in prices of petroleum products will also unleash a massive spell of price spiral, further burdening the people who are already unable to bear the existing inflation.
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2011
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December
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- Boxing star Amir Khan arrives in Pakistan for tour...
- Cricket: Sri Lanka hope for change of luck
- Football: Celtic trio called to represent Team GB
- Football: Ferguson praises Giggs as United look to...
- If Kayani’s, Pasha’s heads roll, SC may come to re...
- Quaid-i-Azam Day: Float displays country’s cultura...
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- Car catches fire near PTI rally in Karachi Venue
- Firdous Ashiq Awan submitted her resignation as Mi...
- Gen. Kayani was not be present at the president’s ...
- Imran Khan ramps up anti-graft revolution
- Protection of minorities rights is a duty of Govt....
- Saudi airlines emergency landing in Karachi
- Thousands of people gathered in PTI Karachi rally
- US suspends drone attacks in Pakistan
- Pakistan won hockey series against China
- 163 bottles of liquor, other items seized
- Abbas, Meshaal to meet in Cairo
- Abidi gets rousing welcome in Karachi
- Agencies role elimination a must: Shahzain
- All parties want thorough probe into memo scandal
- All stakeholders to be taken on board: Gilani
- Anothder Indian prisoner still in jail despite ter...
- Archdiocese of Lahore celebrate 125th anniversary
- ASWJ activist among four killed Karachi violence
- Australian among 7 die in Indian train fire
- Bill against child molestation adopted
- Bush, Blair guilty in Malaysia �war crimes trial'
- Butt, Aamir to appear before court for appeal hear...
- Co-Ed plan irks females
- Condemned consultant points finger at staffers
- Confusion prevails on TTP truce
- Dacoits continue their looting spree in City
- Egyptians gather for mass protest
- Faiza�s painting exhibition opens in City
- Fakhar Imam joins Jaago Tehreek
- FBR asked to address income tax issues
- Five FC men killed in Dera Bugti blast
- Gaddafi son to face trial in Libya
- Gloria Arroyo sued for massacre
- Gold rallies but debt woes dominate
- Govt must not protect thieves: SC
- Govt to form National Security Task Force soon
- �I played hide & seek for personal gains�
- ICJ to be moved against HR abuses in IHK
- Legal fraternity divided over Memogate inquiry
- Letter sans signature invalid, says Khosa
- Llodra-Zimonjic beat �Indo-Pak Express' for first ...
- London giants look to clinch last 16 berths
- Lorgat not to seek extension
- Major POL price hike on the cards
- Man kills childless wife
- Memo casualty
- Munter offers help on memo
- N cancels G,wala public moot over security
- NASA launching 'dream machine' to explore Mars
- No dengue-related deaths anymore
- No high treason against Haqqani
- No reason to rejoice
- Pagara sees no party in power
- Pakistan could become a failed state, says Romney
- Pakistan face Lanka in final ODI today
- Pakistan TOA team seek govt help
- Pakistan, Lanka qualify for Women�s World Cup
- Plea admitted for hearing against CJ oath-taking
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