HomeLatest newsGovt Increases Petrol Prices by Rs. 30

Govt Increases Petrol Prices by Rs. 30

The Government of Pakistan has decided to increase the price of petroleum products by Rs. 30 from tonight. This was announced by the Finance Minister, Miftah Ismail in a press briefing in Islamabad.

“The government has decided to increase the prices of Petrol, High-Speed Diesel, Kerosene Oil, and Light Diesel Oil by Rs 30 per litre from Friday, May 27, 2022. The new prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre,” tweeted the Finance Minister.

The Finance Minister said Prime Minister Shehbaz Sharif has taken this difficult decision in the larger interest of the national economy. He said that this is a hard decision for the government to impose such kind of burden on the general public.

Miftah said that new prices include Petrol at Rs. 179.86 per litre, High-Speed Diesel at Rs. 174.15, Kerosene at Rs. 155.56 and Light Diesel at Rs. 148.31 per litre.

He said the government is providing Rs. 56 per liter subsidy on petroleum products as the previous government had fixed these prices.

Miftah said that the decision was made in a bid to revive the International Monetary Fund’s $6 billion Bailout program.

The increase comes just a day after the government and the IMF failed to reach an agreement on a financial bailout owing to the former’s reluctance to reverse fuel and electricity subsidies, and the resulting budget uncertainty for the fiscal year 2022-23

Abdul Qadeer
Abdul Qadeerhttps://pakistanwap.com
My Name is Abdul Qadeer. And CEO Pakistanwap ( JamilBaba ) 😊
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