15 February 2024

HomePakistanThe decision of hiking petroleum product prices challenged in LHC

The decision of hiking petroleum product prices challenged in LHC

LHC building where the decision of petroleum price hike is challenged

The decision of hiking petroleum product prices challenged in LHC

Lahore: (Suno News) The Lahore High Court has challenged the move to increase petroleum product prices, with Advocate Azhar Sadiq Advocate, the head of the Judicial Activism Panel, filing a petition.

The petition includes the federal government and others, contending that an increase of 26 rupees has been implemented in the prices of petroleum products.

There is no mechanism in place to determine the prices of petroleum products, and this increase in petroleum product prices is likely to bring a new wave of inflation. A request has been made to the courts to declare the recent price hike in petroleum product prices null and void.

It should be noted that last night, the incumbent government increased the price of petrol by 26.02 rupees per liter, bringing the new price of petrol to 331 rupees and 38 paisas per liter. The incumbent government, despite the burden on the suffering public due to inflation, has once again increased the prices of petrol and diesel.

The price of petrol per liter has been increased by 26 rupees and 02 paisas, after which the new price of petrol has been fixed at 331 rupees and 38 paisas.

On the other hand, after an increase of 17 rupees and 34 paisas per liter in the price of diesel, the new price of diesel has reached 329 rupees and 18 paisas. According to the notification issued by the Ministry of Finance, the new prices will be applicable immediately.

It should be remembered that the incumbent government has raised petroleum product prices for the third time. On August 31, 2023, the price of petrol per liter was increased by 14 rupees and 91 paisas, while the price of high-speed diesel was increased by 18 rupees and 44 paisas.

With this increase, petroleum product prices crossed the 300 rupees per liter mark for the first time in the country’s history, prompting a strong public backlash.

During the government’s one-month tenure, petrol became 58 rupees and 43 paisas more expensive, while diesel became 55 rupees and 78 paisas more expensive in a month.

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