Minister of Finance Miftah Ismail on Wednesday announced that the federal government decided to raise prices of petroleum products at 24 rubles per liter.
new prices will be included in effect today from midnight minister said during a speech at a press conference in Islamabad.
After the increase, gasoline will cost Rs 233.89 after an increase of Rs 24.03, diesel – Rs 263.31 after an increase of Rs 16.31, kerosene – Rs 211.47 after an increase of Rs 29.49 and light diesel fuel at Rs 207.47 after the increase of 29.16 rupees.
Ismail said, government there was no other choice but to “pass on” influence of international prices for consumers in Pakistan.
government lifted gasoline price on more than 84 rubles per liter in in last 20 days.
Explanation of reasons behind another campaign in Prices of petroleum products, etc. minister said that international price of gasoline cost $120 per litre.
“Our country is still facing loss of Rs 24.03 in gasoline, 59.16 rupees in diesel, 29.49 rupees in kerosene and 29.16 rupees in light diesel fuel,” he said at a press conference.
He said government spent 120 billion rupees on subsidies for gasoline. “I saw the situation in the country for 30 years old but I’ve never seen a situation like this in terms of inflation”.
He also accused former prime minister Imran Khan for his policy is doing “damage” national economy.
Ismail said, government was bound by agreements made PTI government with International Monetary Fund (IMF).
He acknowledged that the middle class also suffer from gasoline price trip, adding government will take measures to contain the impact of in price to travel on foot on people.
“We took a difficult decisions before and we’ll take in in future as well as to protect the country from financial difficulties,” minister said.
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