Miftah Ismail says “We are speaking to the IMF on a daily basis”.
Govt Raises Prices of Petroleum Products by Rs 30 per Litre. The federal government has increased the prices of petroleum products by Rs30 per litre, with the hike set to go into effect at midnight tonight. Finance Minister Miftah Ismail announced hike while addressing a press conference in Islamabad. After the hike, the price of petrol will be at Rs209.86, diesel at Rs204.15, and kerosene oil at Rs181.56.
The sudden hike of Rs 30 per litre can be attributed to the economic crisis due to political turmoil in Pakistan. Pakistan’s economy has significantly suffered due to the political fighting between the PTI and the government. In fact, the continuity of protests and long marches across the country is one of the biggest challenge.
It is pertinent to note here that this is the second such increase within a span of two weeks as the coalition government led by PML-N raised the price of petrol by Rs30 per litre on May 26, the biggest increase in fuel price in the country’s history.
Despite tall claims, the coalition government comprising PPP, MQM-P and PML-N as main partners hasn’t managed to bring down the prices of essential commodities and have instead raised prices of petrol and electricity.
Earlier in the day, National Electric and Power Regulatory Authority (NEPRA) has also approved an Rs7.91 increase per unit of electricity.
