The fragile coalition led by President Asif Ali Zardari halved the increase in petroleum prices last month to mollify a key partner which quit the government in protest over the last fuel price hike in January.
That increase was reversed altogether to lure back the Muttahida Qaumi Movement, the third-biggest party in the coalition, but the reluctance to remove subsidies goes against the IMF’s concerns over the country’s fragile economy.
The party again denounced the latest increase as “sheer injustice” and urged the government to revoke the raise.
“The people of Pakistan are already under the burden of high prices and the government’s decision to once again increase fuel prices will put further pressure on the people,” the party said in a statement.
The main opposition party led by former Prime Minister Nawaz Sharif also rejected the increase.
“The government should curb corruption and cut its own expenditures to raise revenues instead of creating problems for the poor people,” party spokesman Siddiqul Farooq told Reuters.
The opposition lawmakers walked out of Parliament in protest over the rise in petroleum prices, prompting Prime Minister Yousaf Raza Gilani to offer talks.
“I have directed the finance minister to sit down with the political parties and discuss with them, how to give relief to the masses over petroleum prices,” he told the National Assembly.
The latest increase effective from Friday saw the price of gasoline raised to 83.56 rupees ($0.98) a liter from 76.58 rupees, up 9.1 percent, and light speed diesel to 78.98 a liter from 69.91 rupees, up 12.97 percent, the OGRA said in a statement.
International benchmark Brent crude for May was at $117.40 a barrel on Friday, after hitting the highest close the previous day since August 2008 and up 23.9 percent for the first quarter.
Pakistan, where tens of millions of people live in poverty, is struggling to control inflation.
The Consumer Price Index rose 12.91 percent in February from the same time last year, and the rise in petrol prices is likely to worsen inflation further.
