The public suffers as the government immediately enforced the new prices of the petroleum prices.
ISLAMABAD: (UrduPoint/Pakistan Point News-August 1st, 2023) The Federal government on Tuesday increased the price of petrol by Rs19.95 per litre for the next fortnightly review.
Finance Minister Ishaq Dar made the announcement during a press conference.
The new petrol price is now Rs272.95 per litre, while high-speed diesel has been raised to Rs273.40, with an increase of Rs19.90.
The revised prices have already taken effect, as the government had to fulfill its commitments with the IMF by implementing the petroleum development levy (PDL) on the rates.
Finance Minister Ishaq Dar mentioned that these price hikes were made after consulting with Prime Minister Shehbaz Sharif. However, there were no changes announced for the price of kerosene oil or light-diesel oil.
It's worth noting that the government couldn't announce the fortnightly adjustment on Monday due to ongoing consultations, which extended into the early hours of Tuesday.
