Islamabad May 27 2022: Government is required to increase prices of Petrol by ~Rs17 per liter, Diesel by Rs57 per liter, Kerosene by ~Rs22 per liter and Light Diesel Oil by Rs 38 per liter for meeting IMF condition of zero subsidy on petroleum products.
In its statement IMF said, “On the fiscal side, there have been deviations from the policies agreed in the last review, partly reflecting the fuel and power subsidies announced by the authorities in February. The team emphasized the urgency of concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget, to achieve program objectives.”
“Petrol and diesel prices are expected to increase further by Rs 30 per liter. The IMF may not be satisfied with the increase. It will also have to give a tough budget.” Says Pakistan People Party Senator Mustafa Nawaz Khokhar
He added, “The question is, what is the wisdom in carrying the burden of Imran Khan's failures and bringing the country to the brink of disaster?”
Yesterday, Government increase prices of petroleum products by Rs 30 per liter from midnight as per finance minister of Pakistan.