Talking to journalists, Hafeez Shaikh, who was accompanied by Interior Minister Rehman Malik, MQM leaders Dr Farooq Sattar, Babar Ghouri, Governor Sindh and others said that the government had tried it level best not to increase the prices of petroleum products, but it became unavoidable due to the considerable raise in global oil prices.
He said after negotiations with MQM delegation, it was decided that 50 percent of the recent hike in oil prices would be withdrawn to lessen the impact on common people. He further said that it was also decided that petrol allocation to government officials would be curtailed by 25 percent. "A committee will be constituted, which will find ways and means for tackling the issue of surging oil prices," he announced.
He underscored the need to educate masses about the issue that it was not the government but the rising prices of oil in international market that necessitated the increase in petroleum products' prices. On the occasion Dr. Farooq Sattar said that after MQM gave three-day ultimatum to the government for withdrawal of the decision, President Zardari contacted MQM Chief Altaf Hussain and explained the reasons and causes that led to the decision to raise oil prices.
After that the President send Rehman Malik and Hafeez Shaikh to Karachi to take MQM into confidence and during the meeting the decision to withdraw 50 percent of the raise was taken, he added. It is to be mentioned here that the government had increased oil prices by 9.9 percent up to Rs 8.58 per litre, in line with hike in global prices.
The price of petrol was increased by Rs 7.23 per litre, HOBC Rs 8.58 per litre, High Speed Diesel (HSD) Rs 7.76 per litre, Light Diesel Oil (LDO) Rs 6.60 per litre, kerosene oil Rs 7 per litre, JP-1 local Rs 5.89 per litre, JP-4 Rs 3.34 per litre and JP-8 Rs 5.88 per litre.