Pakistani Government has jacked up the petrol prices in the country by Rs 6.27 per litre.
Islamabad: Pakistan witnesses hike in petrol prices by Rs 6.27 per litre. The Government of Pakistan has jacked up the prices for the next 14 days. While there is a rise in rates for petrol, the government has slashed prices of diesel by Rs 0.51. “In the wake of fluctuations in petroleum prices in the international market and exchange rate variations, the government has decided to revise the existing prices or petroleum products to pass on the impact to the consumers,” read a statement released by the Finance Division.
According to report by Geo TV, the price of petrol will be Rs 233.91 per litre, diesel will be Rs244.44 per litre, kerosene oil will be Rs199.40 per litre, and light diesel oil will be Rs191.75 per litre.
All these new prices will come in effect from today onwards.
Due to prevailing conditions set forth in Pakistan by International Monetary Fund (IMF), the government here will not be able to afford petroleum subsidies, said Federal Minister of Finance and Revenue Miftah Ismail.
He further elaborated that there will be no more imposition of taxes on petroleum products and emphasized on the fact that Pakistani government is currently not in a position to bear any further losses by giving subsidies.
