Finance Minister Miftah Ismail on Thursday announced the federal government’s decision to increase the price of petrol to Rs209.86. Latest Petrol price has been increased by Rs 60 in a week.
He was addressing a press conference in Islamabad, the finance minister said that Prime Minister Shehbaz Sharif has approved increase in rates of petrol, diesel, and light diesel by Rs30 per litre. However, the price of kerosene oil has been increased by Rs26.38 per litre.
New price of Petrol (per litre):
- Petrol — Rs209.86
- Diesel — Rs204.15
- Light diesel — 178.31
- Kerosene oil — Rs181.94
He acknowledged that the lower-income segment of society would be affected the most as a result of the petrol price hike, but noted that the rate of oil has also sky-rocketed in the international market.
In response to a question, the finance minister said he was hopeful of reaching an agreement with the IMF in June, but noted that there were some reforms that the government still had to introduce.
“The IMF wants to see our budget, so the reforms that we want to introduce will be introduced before the budget. However, we are speaking to the IMF on a daily basis,” he said.
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