Petrol price in Pakistan hiked again, protests hit petrol pumps
Protests have broken out on the streets of Pakistan after the government increased fuel prices by 17 percent in the second straight hike within a week. The increase in petrol prices saw people taking to the streets targeting petrol pumps in cities like Karachi in anger. In an effort to honour a deal with the International Monetary Fund (IMF), Prime Minister Shehbaz-led government decided to remove fuel subsidies further which increased petrol prices by another PKR 30 per litre (approximately ₹11.50).
Petrol price in Pakistan, after the fresh hikes, now stand at PKR 209.86 per litre, while a litre of diesel costs PKR 204.15. On May 27, the hike was similar which had propelled the rates to nearly PKR 180 per litre.
Protests over the latest fuel price hike in Pakistan was reported from Karachi, where a petrol pump near Purani Sabzi Mandi in Central District was vandalised. Protests were also reported from other areas like Nagan Chowrangi and Larkana. Angry citizens reportedly set fire to tires at Jinnah Bagh Chowk in Larkana.
The recent hikes in petrol and diesel prices is the Pakistani government's attempt to resume getting funds from the International Monetary Fund. As protests hit the streets, Pakistani PM tried to mitigate the impact of fuel price hike by launching a new relief package of PKR 28 billion per month.
Earlier in February this year, the former Imran Khan-led government had announced relief measures to reduce fuel prices amid pressure from Opposition parties. He had reduced fuel prices by ₹10 litre. The decision to increase subsidy on fuel has added pressure to the economy already facing cash crunch, according to the current government.