ISLAMABAD: The federal government has further enhanced the prices of petroleum products for the next fortnight, starting from 1st of July (Friday), putting an additional burden of nearly Rs15-18 per litre on the masses.
In a notification, the Finance Division said that in view of the fluctuations in petroleum prices in the international market and exchange rate variation, the government has decided to partially apply a petroleum levy, and revise the existing prices of petroleum products as agreed with the development partners.
The new petrol of petrol has been fixed at Rs248.74/litre while diesel is being sold at Rs276.54/litre. Kerosene oil will be sold for Rs230.26/litre and the price of light diesel oil will be Rs226.15/litre from today (July 1, 2022).
The coalition govt has completed its hat-trick of raising domestic petroleum prices to win IMF support for resumption of loan. So far, the government has raised the price of petrol by Rs84/liter. It had first raised the petrol price by Rs30 on May 26, followed by another increase of Rs30 on June 2. And on June 15, and the government further enhanced petrol rate by Rs24 today.
The process of throwing petrol bomb on consumers will be unending and the government will continue to increase prices gradually till the time the petroleum levy hits Rs50 per liter.
Product | Existing prices w.e.f 16-06-2022 | New prices w.e.f 01-07-2022 | Increase/(-) Decrease |
| Petrol | Rs233.89 | Rs248.74 | +14.85 |
| Diesel | Rs263.31 | Rs276.54 | +13.23 |
| Kerosene oil | Rs211.43 | Rs230.26 | +18.83 |
| Light diesel oil | Rs207.47 | Rs226.15 | +18.68 |
Pakistan sees ‘significant success’ on talks with IMF
Addressing a press conference flanked by State Minister for Petroleum Musaddaq Malik, Finance Minister Miftah Ismail said that Pakistan has seen “significant success” in talks with the International Monetary Fund (IMF) programme and after several deliberations, the two sides are optimistic about the revival of extended fund facility.
“Pakistan has also received the Memorandum of Economic and Financial Policies (MEFP) for the seventh and eighth review under which there are some prior actions,” he said, revealing that among those was to increase the price of petrol through petroleum development levy (PDL) in order to revive the programme.
He reiterated that the Imran Khan-led government had decided to increase the price of petroleum products by Rs4 per litre every month; however, the PTI government broke IMF’s promise and gave subsidies which added pressure to the exchequer.
