Finance Minister Ishaq Dar on Tuesday announced that the price of petrol in Pakistan has been increased by Rs 19.95 to Rs 272.95 per liter for the next fortnightly review, noting that the step was taken in “national interest”. has gone
The revised rates are effective immediately.
The announcement was due on July 31, but the government did not release the new rates as officials sought to maintain or reduce the rates, taking into account the impact of the price hike on the inflation-stressed.
Dar, who made his last announcement as finance minister as his government’s term ends on August 12, said the price hike was inevitable as Pakistan agreed with the IMF on the Petroleum Development Levy (PDL). had agreed to slap the prices.
| Product | Existing prices w.e.f 16.07.2023 | New prices w.e.f 01.08.2023 | Change |
| Petrol | Rs253 | Rs272.95 | Rs19.95 |
| Diesel | Rs253.50 | Rs273.40 | Rs19.90 |
“…We have either tried to reduce or to see what can be adjusted in his work. But we all know about our commitments to the IMF on the Petroleum Development Levy. ,” Dar mentioned.
The finance minister said that if the government had not entered into an agreement with the IMF, it would have reduced the PDL.
Dar said that he would not resort to the measures taken by the previous government as it reduced the price of petrol and failed to fulfill its commitments to the International Monetary Fund (IMF).
The Finance Minister said that the price of high-speed diesel has increased significantly in the international market, as a result of which the government has decided to increase the local rates.
“Keeping in mind the national interest, it is very important that we transfer the minimum [amount] that has been calculated,” the finance minister added.
