The price of petrol has been increased by rupees 10 a litre, taking the price of the essential fuel to Rs282 per litre.
The price of kerosene has been increased by 5.78 rupees per litre, as per the revised rates issued by the finance ministry.
There is, however, no change in the prices of high-speed diesel and light diesel oil, which stand at 293/ litre and 174.68/litre, respectively.
The new fuel prices have come into effect from Saturday midnight.
According to the ministry, the decision was made "in the wake of an increase in petroleum prices in the international market and exchange rate variation."
Last week, in light of the country’s severe economic upheaval, the IMF voiced optimism that a staff-level agreement (SLA) would soon be reached with Pakistan.
Jihad Azour, the director of the IMF’s Middle East and Central Asia Department, made the remarks while speaking with a team from Pakistan that was in the country to attend the IMF-World Bank Spring Meetings.
Azour hoped that Pakistan will continue on its path of reforms in a number of areas and finish the plan on schedule and that “the IMF will play its positive role in bringing economic stability to Pakistan.”
Pakistan has completed all preparatory steps necessary to obtain the IMF loan tranche, and guarantees from allied countries is the only thing keeping the project from moving forward.
The money is part of a bailout package of $6.5 billion that the Fund authorised in 2019, which analysts say is essential for Pakistan to avoid defaulting on its responsibilities for external payments.
The agreement would also open up additional bilateral and multilateral funding options for Pakistan, which would stabilise its foreign exchange reserves.
In a recent development, the international lender reduced Pakistan’s growth forecast from the earlier 2% estimate to 0.5% amid a dollar shortage, causing supply chain delays and business shutdowns.
https://twitter.com/FinMinistryPak/status/1647312866985295874
The price of kerosene has been increased by 5.78 rupees per litre, as per the revised rates issued by the finance ministry.
There is, however, no change in the prices of high-speed diesel and light diesel oil, which stand at 293/ litre and 174.68/litre, respectively.
The new fuel prices have come into effect from Saturday midnight.
According to the ministry, the decision was made "in the wake of an increase in petroleum prices in the international market and exchange rate variation."
Last week, in light of the country’s severe economic upheaval, the IMF voiced optimism that a staff-level agreement (SLA) would soon be reached with Pakistan.
Jihad Azour, the director of the IMF’s Middle East and Central Asia Department, made the remarks while speaking with a team from Pakistan that was in the country to attend the IMF-World Bank Spring Meetings.
Azour hoped that Pakistan will continue on its path of reforms in a number of areas and finish the plan on schedule and that “the IMF will play its positive role in bringing economic stability to Pakistan.”
Pakistan has completed all preparatory steps necessary to obtain the IMF loan tranche, and guarantees from allied countries is the only thing keeping the project from moving forward.
The money is part of a bailout package of $6.5 billion that the Fund authorised in 2019, which analysts say is essential for Pakistan to avoid defaulting on its responsibilities for external payments.
The agreement would also open up additional bilateral and multilateral funding options for Pakistan, which would stabilise its foreign exchange reserves.
In a recent development, the international lender reduced Pakistan’s growth forecast from the earlier 2% estimate to 0.5% amid a dollar shortage, causing supply chain delays and business shutdowns.
https://twitter.com/FinMinistryPak/status/1647312866985295874