Finance Minister Ishaq Dar on Saturday announced a reduction of Rs9 per litre in the price of petrol to Rs253.
In a press conference, he also notified a cut of Rs7 per litre in the price of diesel. The new price of diesel will be Rs253.5 per litre.
The new prices come into effect at midnight.
He added that despite an uptick in price of one of the two products in international market, “the increase was offset due to rupee appreciation over past few days”.
“Prime Minister Shehbaz Sharif wants to pass on maximum relief to the people of Pakistan hence the government is not making any change in petroleum development levy (PDL) that is a part of the International Monetary Fund (IMF) deal,” Dar said.
The whole world including the wealthy nations pay about this much for petrol. The country cannot afford to subsidize it.
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Syed Hammad Karim Jul 16, 2023 01:48am
But he increased the electricity tariff way to high for even middle class to afford... Just recently he increased the income tax thus further over burdening already income tax paying salaried people. No wonder Pakistanis are leaving Pakistan in large numbers. Pretty soon there would be no one left to afford such high over burdening taxes & tariffs
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