Sources have said that this time, there is a likelihood, that fuel prices could surge, as the never ending uncertainty emerging out of the Middle-East due to the so-called revolution of our time, can disrupt fuel supply, and oil prices are likely to gain even more.
International oil prices have been ever escalating, and they now trade over $91 a barrel in New York, where as in London, Brent Crude oil has crossed the $103 a barrel mark. What this means is that Pakistan is importing oil at a higher price, which is piling up the burden, on the country’s oil import bill.
The government has tried to increase oil prices in line with the international trend, but thanks to the coalition government’s pressure, and finger-pointing by the opposition bench, oil prices have been kept unchanged for the last three months.
The government is in tantrums. If they decide to increase oil prices, the people of Pakistan along with the coalition government, will cry foul. On the other hand, if they do not, then the IMF will complain, once again.
The international monetary fund always wanted Pakistan to cut out on the fuel and power subsidies, and to increase the power tariff along with oil prices. We all know what keeping the IMF unhappy means, not getting the rest of the loan arrangements, which is more than three billion dollars, which the government, is in dire need of.
So as always, by the end of the month, or namely, February 28, sources close to DawnNews have said that the government will sit down and decide fuel prices for the month of March.
Sources have said that this time, there is a likelihood, that fuel prices could surge, as the never ending uncertainty emerging out of the Middle-East due to the so-called revolution of our time, can disrupt fuel supply, and oil prices are likely to gain even more.
So will the government go for the price increase by the end of the month, to keep the IMF happy, or will they keep the people happy, by keeping them unchanged, for the fourth month in a row.
No comments:
Post a Comment