Federal Government has finally taken the decision of petroleum products price hike by Rs. 30 per litre after unsuccessful negotiation with International Monitory Fund (IMF) for $6 billion revival program.
The IMF has emphasised upon “urgency of concrete policy actions, including removing fuel and energy subsidies”.
Miftah Ismail, Finance Minister hold a press conference in Islamabad to announce the decision to increase the petroleum prices.
Consequent after price increase, petrol will be sold at Rs179.86 per litre, while the price of high-speed diesel (HSD) will jump to Rs174.15 per litre and kerosene oil will be increased to Rs155.56 per litre.