Miftah Ismail, the Finance Minister, stated on Thursday that the government has decided to raise the price of petroleum products by Rs. 30 per liter, effective at midnight. Petrol will cost Rs. 209.86, diesel will cost Rs. 104.15, and light diesel would cost Rs. 178.31 after the increase. Kerosene oil, on the other hand, has seen a price hike of Rs. 26.38 per liter.
It’s worth noting that the government has raised the price of petroleum goods by Rs. 60 in the last week.
Pakistan’s oil imports are being hampered by a lack of foreign cash
According to the newspaper, roughly six-seven shipments worth USD 50-75 million apiece (USD 350-500 million cumulatively) are now being held up due to heightened risk following certain critical pronouncements from key ministries concerning the poor fiscal and foreign exchange situation.