In the last few days, I had written a number of posts about the rising oil price in the international market and its impact on the Indian economy. Well, India has not increased the price of oil in the domestic market for the last 6 months and most probably the Indian government is waiting for the elections in the 5 states to finish. Since, the Pakistani government has no such election to worry about at the moment; it can safely increase the price of oil in the domestic market. The price of Kerosene oil has been increased 7.2%, for light diesel oil it is 5.1%. Poor, poor people, as they are the main users of kerosene oil. The price of petrol has been increased too.
Ultimately, it is the common people who will have to bear the burden and this may not be so good news for the growth prospect of Pakistani economy after all. Well, the Pakistani government has no choice but to increase the price of oil too because of the high price in the international market.
Perhaps, the best way really is to educate people through media about the price hike of oil in the international market and motivate people to consume less oil.
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