The price of high speed diesel has increased from 263.31 rupees to 276.54 per litre while Kerosene oil has jumped from 211.43 to 230.26 rupees per litre and light diesel oil from 207.47 to 226.15 rupees.
ISLAMABAD: (UrduPoint/Pakistan Point News-July 1st, 2022) The price of per litre petrol reached to Rs248.78 from Rs 233.89 after the central government approved further increase in the prices of the petroleum products.
Notification to this effect was issued.
According to Radio Pakistan, in view of the fluctuations in petroleum prices in the international market and exchange rate variation, the government decided to increase prices of petroleum products in the country form today (Friday).
The Ministry of Finance said that the government took the decision to apply petroleum levy partially and revise the existing prices of petroleum products as agreed with the development partners.
Addressing a press conference in Islamabad soon after the price hike notification was issued by the Finance Division, Federal Minister for Finance and Revenue Miftah Ismail while justifing the increase in the petroleum products, said the deviation from the agreement with the International Monetary Fund by the Pakistan Tehreek-i-Insaf government is the key reasons of this hike.
Speaking on the occasion, Minister of State for Petroleum Musadiq Malik said the government had to take tough decisions to steer the country out of the crisis.
He said with timely and corrective measures, the government has successfully avoided the looming threat of bankruptcy.