KP Finance Adviser warns petrol could hit Rs500/liter if global oil price surges to $120 per barrel
PESHAWAR: Khyber Pakhtunkhwa Finance Adviser Muzammil Aslam has sharply criticized the federal government’s recent decision to raise petroleum prices by Rs55 per liter, saying the move will further strain financially stretched citizens and questioning the logic behind the pricing strategy.
In an official statement, Aslam said the government adjusted prices of petroleum products while keeping existing taxes and the petroleum development levy unchanged. He noted that the levy now tops Rs100 per liter, contributing to record fuel costs.
According to the adviser, petrol now costs Rs321 per liter and diesel Rs335 per liter, the highest levels in the nation’s history placing added pressure on low-income households already grappling with economic hardships.
“As fuel prices soar, ordinary citizens feel the burden,” Aslam said, highlighting that poverty has reached about 45 percent and unemployment is at its highest in 21 years.
He also raised concerns over the government’s reliance on global oil benchmarks, pointing out that current international oil prices hover around $80 per barrel.
Aslam questioned what would happen if global crude prices surged further. “If international oil prices rise to $120 per barrel, will the government increase petrol prices to Rs500 per liter?” he asked, warning that such a move could deepen economic distress for millions.
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