Islamabad May 26 2022: Government increases prices of petroleum products by Rs 30 per liter to meet IMF conditions from tonight as per finance minister of Pakistan.
Addressing a press conference in Islamabad, Federal Minister for Finance Muftah Ismail said that from day one I have been saying that increase in prices of petroleum products is inevitable. The government has decided to increase the price of petrol, diesel and kerosene oil by Rs 30 per liter. New prices for petroleum products will be announced tonight at 12 noon.
Muftah Ismail said that after the price hike, new price of will be Rs 179.86 per liter for petrol , Rs 174.15 per liter for diesel and Rs 148.31 per liter for light diesel.
IMF in a statement issued yesterday at the conclusion of talks with Pakistan stressed for taking concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget, to achieve program objectives.
This measure will help to narrow divergence and corrections required in the current account and fiscal deficit identified during the meetings.
