ISLAMABAD: According to a notification issued by the Finance Ministry, the interim government has raised the price of petrol in Pakistan by Rs14.91 per litre, establishing a new record as the highest increase in the nation’s history.
The price of petrol has surged to Rs305.36 per litre due to a rise of Rs14.9 per litre.
In a similar vein, the cost of high-speed diesel (HSD) has been pushed up by Rs18.44 per litre, resulting in a new price of Rs311.84.
On August 16, there was a Rs17.50 per litre hike in petrol prices, bringing it to Rs290.45. Similarly, high-speed diesel reached Rs293.40.
Before this, on August 1, the then federal government had raised the petrol price by Rs19.95 per litre.
It’s important to note that the caretaker Finance Minister, Dr. Shamshad Akhtar, has dismissed the possibility of additional subsidies within the framework of the International Monetary Fund (IMF) agreements.
She emphasized that the caretaker government had “inherited” the IMF program, making it a “non-negotiable” aspect.
She clarified that the existing agreements don’t allow for supplementary subsidies.
Dr. Shamshad Akhtar pointed out that the current administration aims to formulate a comprehensive strategy to strengthen the nation’s economic well-being.
The minister highlighted that efforts are underway to stabilize the exchange rate between the national currency, the rupee, and the US dollar.
