LAHORE – As the petroleum prices hit all-time high, transporters have announced a 20 percent increases in fare.
All Pakistan Public Transport Owners Federation said that the fare has been increased in response to massive surge in petroleum prices.
It announced that only 50 percent transport will work due to rising in diesel prices, adding that employees will also be removed.
Last night, the newly installed government jacked up petrol prices by Rs30 to a record Rs209.86 per litre a week after it announced an Rs30 hike.
With the second increase in the same week, the price of petrol stands at Rs209.86, diesel at Rs204.15. The price of kerosene oil has been increased to Rs181.94 per litre with a difference of Rs26.38 per litre.
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Finance Minister Miftah Ismail revealed that the hard step was taken in wake of soaring prices of petroleum products in the international market, revealing that the government was still bearing losses despite the massive surge.
PML-N leader maintained that the government is aware that the decision will lead to more inflation, terming the move mandatory.
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