ISLAMABAD – The Pakistani government has increased the price of petroleum products again, in order to meet preconditions of the International Monetary Fund (IMF) for unlocking a critical loan tranche of $1 billion.
The announcement came hours after unveiling a tax-loaded ‘mini-budget’. The government has increased the price of petrol by Rs22.20 per litre, taking it to Rs272/litre. The price of high-speed diesel has been increased by Rs17.20 per litre, putting it to Rs280/litre.
Kerosene oil will now be available at Rs202.73 per litre following a Rs12.90 hike. Meanwhile, light diesel oil will be available at Rs196.68 per litre after an increase of Rs9.68.
The new prices come into effect from 12am tonight.
A press release issued on Wednesday night stated that the surge has taken place due to the rupee’s devaluation against the dollar.
