Pak government raises fuel prices again; petrol, diesel at new high
A Pakistani petrol station attendant fills the tank of a motorcycle in Islamabad
Amid rising inflation, the Pakistan government on Wednesday hiked petrol prices by another Rs 24 per litre.
Petrol will now cost Rs 233.89 per litre and diesel is set to cost Rs 263.31 after it was raised by Rs16.31.
Finance Minister Miftah Ismail said the rise in fuel prices was due to high international prices while blaming the previous Imran Khan government for the crisis.
Also Read:Pak hikes prices of petroleum products, power massively
The Pakistan government has raised the price of fuel for the third time in the last 20 days amid worsening economic situation in the country.
Kerosene oil and light diesel are also set to cost more as the government battles to control prices. Pakistan has been trying to control its fiscal deficit and attemptingto secure bailout money from the International Monetary Fund(IMF).
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The IMF has insisted on ending fuel subsidies. Reports claim the IMF is ready to release funds if the Pakistan government agrees to remove fuel subsidies.
Last month while announcing the fuel price hike, Pakistan's new Prime Minister Shehbaz Sharif had said it was needed to save the country from bankruptcy.
The country had witnessed protests in Lahore, Karachi and Islamabad amid rising inflation and fuel price hike earlier this month.
(With inputs from Agencies)
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