Monday, November 28, 2022

Govt releases pricing announcement for petroleum products

Following the announcement made by the minister of finance that the prices for petroleum products will remain the same, the federal government has now published a notification addressing the prices.

According to the notification that was distributed by the ministry of finance, the price of a liter of petrol will remain at Rs149.86, the price of a liter of high-speed diesel (HSD) will remain at Rs144.15, the price of a liter of kerosene oil will remain at Rs125.56, and the price of light diesel will remain at Rs118.31.

The decision not to raise fuel prices was made by the federal government, which is governed by the Pakistan Muslim League-Nawaz.

Miftah Ismail, who serves as the Federal Minister for Finance and Revenue, made the statement while speaking at a press conference in Islamabad.

Miftah Ismail has stated that the government will not raise the prices of fuel, and he has further stated that he will be holding discussions with the International Monetary Fund (IMF) for the purpose of reviving the loan package for Pakistan.

Miftah assured the general populace that there would not be an increase in the cost of fuel and cautioned them against standing in long lineups at gas stations amid the current heatwave.

In an attack on the previous minister of finance, Shaukat Tarin, he claimed that Tarin had agreed with the International Monetary Fund to gradually phase down the petroleum products subsidy.

Read Also: Sharif family mills decide to make Sugar prices Rs 70 per kg

The Prime Minister, Shehbaz Sharif, has made the decision to hold a conference of coalition parties in the federal government in order to deliberate on the actions that are required to pull the economy out of its current predicament.

The meeting of the coalition parties is expected to take place on either Monday or Tuesday, as indicated by sources with knowledge of the situation, and during this gathering, participants will be briefed on the decisions that the leadership of the PML-N made in London.

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