US, IMF criticise petrol price hike reversal

Daily Times


ISLAMABAD: The US has raised objections on the Pakistani government’s decision to withdraw increase in petroleum products prices. US Secretary of State Hillary Clinton says it was a “mistake” for Pakistan to reverse fuel price increase. State Department spokesman Mark Toner said the US did not consider it a wise decision. Increase in prices was vital for Pakistan’s financial stability, he added. The IMF also criticised the decision. “They’re inefficient and untargeted so that the bulk of the benefit from the energy subsidy goes to higher income individuals and large companies,” IMF spokeswoman Caroline Atkinson said from Washington. agencies

Government withdraws petrol price hike

Tribune

ISLAMABAD: Prime minister Yousuf Raza Gilani has announced in the National Assembly that petroleum prices be reverted back to the prices declared on October 31, 2010.

He said that the issue could not be addressed earlier due to the tragic assassination of Governor Salmaan Taseer.

On his return he had a joint discussion with the Finance Minister, Abdul Hafeez and other members of parliament.

The prime minister said the decision was made keeping in mind the opinions of all political parties.

They also took into account the protests over the hike in petroleum prices and decided to reverse the prices back to the rates that were effective on October 31, 2010.

The Prime Minister also urged a parliamentary committee be formed for developing strategies to overcome the issue of fluctuating prices of oil and petroleum.

Leader of the opposition, Chaudhary Nisar appreciated and lauded  Gilani’s decision in the National Assembly.

LPG price raised by Rs. 5 per kg

SAMAA


LAHORE: The price of Liquefied Petroleum Gas (LPG) has been increased by Rs. 5 per kilogram on Thursday.

According to the LPG Dealers Association, after the Rs. 5 increase, the price of LPG in Lahore, Sialkot, Gujranwala, Narowal and Hafizabad has climbed to Rs. 125 per kilogram.

LPG price in Rawalpindi, Islamabad, Murree, Jhelum and Chakwal has mounted to Rs. 145 per kilogram, while in Karachi it has reached Rs. 110 and in Peshawar Rs. 135 per kilogram.

The cost of domestic LPG cylinder has jumped up by Rs. 60 and commercial cylinder by Rs. 240 per cylinder.

MQM submits adjournment motion in NA over POL Price Hike

Daily-Times


KARACHI: Muttahida Quami Movement’s members of National Assembly have submitted an adjournment motion in the National Assembly under Rule 101 of the Rules of Procedure against hike in the prices of POL products. The motion has been signed by Deputy Parliamentary Leader of MQM in National Assembly Hyder Abbas Rizvi and MNAs SA Iqbal Sadri, Abdul Nadir Khanzada and Mrs Shagufta Sadiq. It has been submitted in the National Assembly Secretariat, a statement said. The motion says that the increment in the prices of the POL products will directly hit common people belonging to all segments of the society while the commodities of daily needs will go out of their reach. It says that the increase in the POL prices is an unjust, which will bring tsunami of price hikes to drown common people. staff report

MQM condemn the petroleum products' price hike

SAMAA


KARACHI: President Asif Ali Zardari should immediately annul the currently approved price hike of the petroleum products, demanded Mutahida Qaumi Movement (MQM) immediately after the unofficial announcement on Friday.

MQM Raabta (coordination) Committee has strongly condemned the approval of increase in the prices of the petroleum products and termed it as an additional burden on the already troubled people of Pakistan.

“The poor people of the country are already buried under the burden of constant price hike and this current price increase of the petroleum products is a sheer brutality,” said the MQM Raabta Committee.