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Govt announces increase in petrol price by Rs30 in bid to resume IMF programme

419168 095114 updates


ISLAMABAD: Finance Minister Miftah Ismail announced Thursday a massive hike in the price of petroleum products after the International Monetary Fund (IMF) emphasised abolishing the subsidies on the commodities.

In a press conference, the finance minister said the government has decided to hike the price of petrol, diesel, kerosene oil, and light diesel by Rs30, effectively from May 27.


New prices (per litre):

  • Petrol — Rs179.86
  • Diesel — Rs174.15
  • Kerosene oil — Rs155.56
  • Light diesel — Rs148.31

The finance minister noted some burden was shifted on the masses, but despite the massive increase in the price of petroleum products, the government was still bearing losses. 


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