ISLAMABAD: The federal government has surrendered before the International Monetary Fund (IMF) and announced a massive hike in petrol and diesel prices up to Rs30 per litre, ARY News reported on Thursday.
While addressing a press conference today, Finance Minister Miftah Ismail said that the government has decided to increase the prices of petroleum products which will be taken into effect tonight at 12:00 midnight.
The finance minister announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.
Miftah Ismail said that the government is currently giving a subsidy of Rs56 per litre and so far bore Rs55 billion financial loss within 15 days.
He said that Prime Minister Shehbaz Sharif took a tough decision in view of the current economic situation. He added that the government is prioritising the national interests besides blaming the previous government’s policies which rose the inflation rate.
This is a developing story……………………
from ARY NEWS https://ift.tt/S2QVjAq
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