Pakistan’s ministry of finance announced on Sunday petrol and diesel prices would rise by 35 rupees ($0.1400) a litre after the country’s currency value plummeted this week when price caps were removed.
The decision came days before an International Monetary Fund mission will visit Pakistan later this month to discuss the stalled ninth review of the country’s current funding programme.
Last week, the Pakistani rupee lost close to 12 per cent of its value after the removal of price caps that were imposed by the government but which were opposed by the IMF.
