ISLAMABAD: The federal government has announced an increase in the price of petrol by Rs 24.03 per litre and diesel by Rs 59.16 per litre. The new prices have come into effect from today.
Despite Prime Minister Shahbaz Sharif’s rejection of the summary of the fuel price hike, Federal the prices of petroleum products were hiked on Wednesday night.
Pakistanis were hit by third and a massive hike in petroleum products prices as the government increased Rs84 on petrol and Rs119 on diesel as the finance minister knelt before the International Monetary Fund (IMF).
The price of diesel has been increased by Rs59.16 per litre and the new price of diesel has been increased by Rs263.31 per litre. Kerosene has been increased to Rs29.39 per litre and the new price was fixed at Rs211.43 per litre. The price of light diesel has been increased by Rs29.16 and the new price of light diesel has been increased by Rs207.47 per litre.
Finance Minister Dr Miftah Ismail announced in the news conference that he was making the decision to increase the price of petrol with a heavy heart. He said that people were being registered under the cheap petrol and diesel package of the prime minister. Rs2,000 has been given for petrol in Benazir Income Support Program (BISP).
Ismail said that we know that increase in prices of petroleum products will increase inflation and people’s suffering, but we are compelled, otherwise, the other way was a catastrophe.
He added that after hardship, there is ease, and the government will soon overcome inflation and deliver relief to the nationals.