Pakistan increases the price of gasoline and diesel for consumers by 17 percent at pumps starting Friday, Minister of Finance Miftah Ismail announced. Both were raised 30 pakistani rupees each per liter.
This is the second time a week Pakistan will cut fuel subsidies in an effort to control fiscal deficits and secure international monetary fund bailout money.
Ismail said there were still subsidies of around 9 Pakistan row per liter, reported the Reuters news agency.
Fajar reported that after the last round of increase, gasoline would be valued at 209.86 PKR, diesel in 204.15 PKR, kerosene oil at 181.94 PKR and light diesel at 178.31 PKR. Only the price of kerosene oil increases less than 30 PKR.
On May 27, the Pakistani government increased the level of petroleum products by 30 PKR per liter, or up to a quarter of the existing price.
This step is expected to help relieve land mines placed by the government of former Prime Minister Imran Khan on the one hand, and will save the country from the default that rises on the other side.
Ismail said the government held talks with the IMF every day, added “We cannot accept all their demands but there are certain points that we must approve.”
However, Ismail said the government would ensure the stability of sugar and wheat prices in 70 PKR per kg and 40 PKR per kg each in utility stores throughout the country.
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