Various news and social media websites quoting sources are giving reports of increase in prices of petrol and diesel from November 16 (Saturday).
The reports have intensified the worries of the common man who is already adversely disrupted by inflation, poverty and unemployment.
The International Monetary Fund (IMF) had proposed to impose a General Sales Tax (GST) on petroleum products besides enhancing the Petroleum Development Levy (PDL) from Rs60 to Rs70 per litre and it is said that a massive hike from November 16 is expected if government agrees to these recommendations.
It is not confirmed that the government will agree to the proposals of the IMF that could result in steep hike in petroleum prices.
However, the reports of increase in petroleum prices has increased the mental stress of the common man. As rise in petroleum prices increase price of almost every item.
On the other hand, the business community has also started flexing muscles to increase the rates of respective commodities after reports of expected surge in petroleum prices.
