THE PRICE OF PETROL HAS INCREASED BY RS24 PER LITRE:
ISLAMABAD: The PML-N-led coalition government raised the price of petrol by Rs24 per litre on Wednesday.
Finance Minister Miftah Ismail made the announcement during a press conference in Islamabad, citing the government's inability to handle any more subsidies.
He stated that the new prices will take effect on June 15 at 12 a.m.
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Miftah slammed the previous administration's actions, saying they "degraded the country's economy."
The incumbent administration, according to the finance minister, is feeling the brunt of it, with Pakistan losing Rs24.3 per litre on petrol, Rs59.16 on diesel, Rs39.49 on kerosene oil, and Rs39.16 on light diesel oil.?
Prime Minister Shehbaz Sharif had previously rejected the report of the Oil and Gas Regulatory Authority (Ogra), which sought a rise in petroleum product prices beginning June 16.
The Finance Division issued a notification in this regard.
Petrol costs Rs209.86, diesel costs Rs204.15, kerosene oil costs Rs181.94 and light diesel costs Rs178.31.
In light of negotiations with the International Monetary Fund, the oil regulatory authority proposed a rise in petroleum prices starting June 16 in a summary (IMF).
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