The government suddenly raises petrol price by Rs. 30

The Petrol will cost Rs179.86 per litre.

May 26, 2022

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The government suddenly raises petrol price by Rs. 30 — The Petrol will cost Rs179.86 per litre. source: dunyanews.tv

The government of Pakistan has decided to increase the petrol price by Rs.30 from tonight. Finance Minister Miftah Ismail announced this at a press conference in Islamabad. “The government has decided to increase the price of Petrol, High-Speed Diesel, Kerosene Oil, and Light Diesel Oil by Rs 30 a liter from Friday, May. 27, 2022. New prices will take effect at midnight. Furthermore, the new petrol price will be Rs 179.86 and diesel will be Rs 174.15 a liter, ”the Finance Minister on Twitter said.

Government has decided to increase the prices of Petrol, High Speed Diesel, Kerosene Oil and Light Diesel Oil by Rs 30 per litre from Friday May 27, 2022. New prices will go into effect at midnight. The new price of petrol will be Rs 179.86 & diesel will be Rs 174.15 per litre.
— Miftah Ismail (@MiftahIsmail) May 26, 2022

New prices :

Petrol — Rs179.86
Diesel — Rs174.15
Kerosene oil — Rs155.56
Light diesel — Rs148.31

For a better National Economy:

The Minister of Finance said Prime Minister Shehbaz Sharif had taken this difficult decision with the ultimate goal of the country’s economy. Moreover, he said this was a difficult decision for the government to impose on the entire community such a burden. However, Miftah said new prices include Petrol for Rs. 179.86 liters, High-Speed Diesel for Rs. 174.15, Paraffin for Rs. 155.56, and Light Diesel for Rs. 148.31 liters. Furthermore, he said the government provides Rs. Fifty-six liters of subsidies on petroleum products as the previous government had fixed these prices. Miftah said the decision was to revive the International Monetary Fund’s $ 6 billion programs. The increase comes just days after the government and the IMF failed to reach a bailout agreement due to doubts about fuel and electricity and uncertainty over the 2022-23 financial year budget.

More Details:

The PTI-led government initially approved the IMF’s request to increase the price of electricity and petrol products. However, later in March, Imran Khan announced funding for both assets – and the current government is still pursuing a similar plan. Furthermore, the finance minister said that after the decision to increase prices, financial markets would be stable, the rupee would be stronger, and the economy would grow.