ISLAMABAD: The Government of Pakistan on Monday increased the price of petrol by Rs6.72 for the next fortnight.
In the wake of fluctuation in petroleum prices in the international market and exchange rate variation, the government has decided to revise the existing prices of petroleum products to pass on the impact to the consumers.
The new prices, effective from August 16, 2022, are as follows:
Product | Existing Prices w.e.f 01.08.2022 | New Prices w.e.f 16.08.2022 | Increase/(-) Decrease |
MS (Petrol) | 227.19 | 233.91 | +6.72 |
High-Speed Diesel (HSD) | 244.95 | 244.44 | -0.51 |
Kerosene | 201.07 | 199.40 | -1.67 |
Light Diesel Oil | 191.32 | 191.75 | +0.43 |
Speaking during Geo News' show Naya Pakistan on August 14, Finance Minister Miftah Ismail said that the government can't afford to subsidise petroleum products.
“The finance ministry will not impose any more taxes and levies on petroleum products, but the government could not bear any more losses by providing subsidies,” the minister said.
SBP says amount will be reflected in its reserves for week ending on May 3
Renowned ride-hailing platform will continue operations of subsidiary Careem app
Elon Musk has become worlds second richest man defeating Jeff Bezos
Tesla CEO's surprise visit to China has proved successful
Surge in AI demand is expected to drive sales of memory chips and other tech devices
The development came after the IMF Executive Board's meeting held to review the release of funds