Pakistan increased petrol and diesel prices for consumers by 17 per cent at the pumps starting on Friday, finance minister Miftah Ismail announced. Both being raised 30 Pakistani rupees each per litre.
This is the second time in a week Pakistan will slash the fuel subsidies in a bid to control the fiscal deficit and secure International Monetary Fund bailout money.
Ismail said there remained a subsidy of about 9 Pakistani rupees per litre, reported news agency Reuters.
The Dawn reported that after the latest round of hike, petrol will be priced at 209.86 PKR, diesel at 204.15 PKR, kerosene oil at 181.94 PKR and light diesel at 178.31 PKR. Only kerosene oil’s price was hiked by less than 30 PKR.
