 "Pak's party TLP party gives govt 'ultimatum' to withdraw fuel price hike")
Pakistani political party Tehreek-e-Labaik Pakistan (TLP) has given a 72-hour 'ultimatum' to the Pakistan Muslim League-N (PML-N) led the government to withdraw the latest hike on petroleum products, The Express Tribune reported.
Addressing a press conference, TLP Chief Saad Hussain Rizvi warned that if the government does not withdraw the price hike, the party would do "what it is known for"-- a reference to protest marches in the recent that brought the federal capital to a standstill.
"I am giving a 72-hour ultimatum to the government to withdraw the increase in the prices of petroleum products immediately," Rizvi said on Friday.
On Wednesday, the Pakistani government increased the petrol price by up to Rs 22.20 and diesel Rs 17.20 per litre amid spiralling inflation as the country continues to face an economic crisis, reported The Express Tribune.
He said that the rulers of the country were begging the International Monetary Fund (IMF) for the 23rd time in 75 years, adding that Pakistan's debt had increased by 23 per cent in just one year.
He claimed the rulers were now thinking of making IMF visit the country's nuclear plants and weapons sites. "The poor man has been squeezed to such an extent that he is unable to even think of protest," he added.
Rizvi said the government should reduce its expenses by shrinking its army of ministers and advisers.
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He also demanded that petrol offered to politicians and government officials be stopped immediately as they were using "millions of litres" every day.
"The office-bearers [of the party] should go to everyone including the business community and tell them that TLP is standing with them and that an Islamic system is the only hope," he added.
The announcement from TLP comes after the party was widely criticised for not calling out the current government over the recent price hike, as Rizvi had lashed out at the PTI government when it raised prices, as per the report in The Express Tribune.
Earlier, on Wednesday, the price of petrol has been moved up to Rs 272 per litre after an increase of Rs22.20, a press release from the Finance Division read Wednesday night, to appease the International Monetary Fund (IMF) for unlocking the critical loan tranche, hours after unveiling a tax-loaded 'mini-budget', Geo News reported.
The Pakistani rupee has fallen sharply against the dollar since an artificial cap on the local currency was removed last month to allow its value to be decided by a market-based exchange rate.
The price of high-speed diesel has been increased to Rs 280 per litre after a hike of Rs17.20. Kerosene oil will now be available at Rs 202.73 per litre following a Rs 12.90 hike. Meanwhile, light diesel oil will be available at Rs196.68 per litre after an increase of Rs 9.68, reported Geo News.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)