The latest reports say that the government has accepted the demands of petroleum dealers to increase margin to Rs7.

The Finance Minister says increasing exports could be challenging in view of looming recession in the West, pointing out that they have to put in more effort to bolster our exports.  

The Minister for power says uninterrupted power supply is being ensured to the industrial sector so that there is no impact on the livelihoods of the people.

Finance Minister Miftah Ismail says that International Monetary Fund has no objection over lowering prices of the petroleum products.

Some protesters, holding Sri Lankan flags and helmets, broke into the president's residence, video footage from local TV news NewsFirst channel showed.

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.

The sources say talks are underway between Pakistan and the IMF on MEFP and from July 1, sales tax of 5% on petrol and a levy of Rs 10 could be imposed.

The Finance Minister says individuals and companies earning 150 million rupees will have to pay one percent additional tax, two percent additional tax on 200 million rupees income, three percent on 250 million rupees income and four per cent additional tax on 300 million rupees income.

Miftah Ismail says he is hopeful that the Extended Fund Facility of International Monetary Fund (IMF) will be reviewed