Pak hikes petroleum prices under deal with IMF to revive bailout programme
The Pakistan government has steeply hiked petroleum prices to implement the tough preconditions set by the International Monetary Fund (IMF) to revive the stalled USD 6 billion bailout package for the cash-strapped country.
Prices of all petroleum products went up by about Rs14-19 per litre after the decision came into effect from midnight on Thursday.
According to a notification issued by the finance ministry, the government imposed a Rs 10 per litre petroleum levy on petrol and Rs 5 each on high-speed diesel (HSD), kerosene and light diesel oil (LDO).
As a result, the per-litre price of petrol has been increased by Rs 14.85, HSD by Rs 13.23, kerosene by Rs 18.83 and LDO by Rs 18.68.
