Double trouble of the people of PAK: Under the pressure of IMF, the government made petrol and diesel costlier by Rs 30 per liter; Imran's new threat

Posted on 27th May 2022 by rohit kumar

A double problem has arisen in front of Pakistan. First- The International Monetary Fund (IMF) did not agree to a loan of $ 6 billion to Pakistan after seven days of talks. After this, the government increased the price of petrol and diesel by Rs 30 (in Pakistani currency) per liter. Finance Minister Miftah Ismail said – The government had no other option but to increase the rate of fuel. We are still giving a subsidy of Rs 56 per liter.

 

Second- Imran Khan has given Shahbaz Sharif's government time to announce the election dates in 6 days. He has threatened that failing this, he will take outmarches and picket in Islamabad and across the country. If there is violence in this, then the government will be responsible for it.

 

new fuel rates in Pakistan

Petrol: 179.85

Diesel: 174.15

Kerosene: 155.95

Light Diesel: 148.41

 

Negotiations with IMF inconclusive

 

After the fall of Imran Khan's government, the IMF had stopped the third tranche of the $8 billion loans to Pakistan. Pakistan had received about $ 2 billion in two installments, but it was spent during Imran's era.

 

After this, the Finance Minister of Shahbaz Sarkar Miftah Ismail reached the Doha office of IMF with a team of 12 people. From 18 to 25 May, ie 7 days, the talks went on. Ismail wanted the IMF to somehow release the third installment of the loan for two months. Overall, $2 billion was needed to run the economy.

 

Why IMF did not give a loan

 

When Imran felt that the government was about to leave, he laid a trap for the next government. IMF was saying at that time to make petrol and diesel costlier by Rs 25 per liter. Instead of making it expensive, Imran made it cheaper by Rs 10 per liter. Electricity was asked to be costlier by Rs 12 per unit. Imran did not do this either.

 

Now IMF is saying that make petrol and diesel costlier by at least Rs 35 per liter. Increase electricity rates too. After this, late on Thursday night, the Shahbaz government gave a big blow to the country by increasing the price of petrol and diesel by Rs 30 per liter.

 

Earlier, the government felt that if they made fuel expensive, then the public would make them worse in the next year's elections. Therefore, she was pleading with the IMF that she should be given time till December so that she can fix the rest of the things by taking loans and through this, she can also do politics. The IMF was not ready for this. Pakistan's foreign reserves are only $12 billion. Of this, $9.5 billion in foreign deposits from Saudi Arabia, China, and the UAE. The government cannot spend them.

 

And now Imran's threat

 

On Wednesday, Imran took out a long march from Peshawar to Islamabad. There was tremendous violence from Lahore to Islamabad. Imran had earlier called it an indefinite dharna. Later, i.e. on Thursday morning, he said that he is giving the government 6 days to announce new elections. If the government does not announce the election dates in 6 days, then they will reach Islamabad again. According to Khan, if there is violence, the government will be responsible for it.

 

On the other hand, Prime Minister Shahbaz Sharif has also been adamant. It is believed that the army is also supporting them to some extent. Sharif said- elections will not be held on the will of Imran Khan Niazi. Parliament will decide this. The political conflict will increase very fast in the coming days.

 

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