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”.
New prices will be effective from midnight (today) May 27, 2022
Miftah Ismail, Finance Minister hold a press conference in Islamabad to announce the decision to increase the petroleum prices.
Miftah said the government has decided to increase the petrol, diesel and kerosene oil prices by Rs30 per litre.
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.