Pakistan petrol, diesel prices: India’s neighboring country witnessed a recent hike in petrol and diesel prices for the daily consumers by 17 per cent at the pumps.
The hike will take effect starting Friday, finance minister Miftah Ismail announced. Both fuels including diesel and petrol will be raised by 30 Pakistani rupees each per litre.
Notably, this is the second time in a week when Pakistan is slated to slash the fuel subsidies. This comes in a bid to control the fiscal deficit and secure the International Monetary Fund (IMF) bailout money.
As per reports, a subsidy of about 9 Pakistani rupees per litre remains in effect.
The Dawn also reported that after the latest round of hike, petrol will be priced at 209.86 PKR, diesel at 204.15 PKR, kerosene oil at 181.94 PKR and light diesel at 178.31 PKR. Only kerosene oil’s price was hiked by less than 30 PKR.
Just last month, the Pakistan government increased the rate of petroleum products by 30 PKR per litre.
The move is likely to help defuse the landmines laid by the government of former PM Imran Khan on the one hand. It will also save the country from looming default on the other.
Pakistan government is also holding talks with the IMF on the same.