The coalition government that is led by the Pakistan Muslim League-Nawaz (PML-N) has once again raised the price of petrol by Rs14.85 per liter.
According to the announcement made by the country’s finance ministry, the price of one liter of petrol has been raised to a new level of Rs248.74. The price of a liter of high-speed diesel has gone up by Rs13.23, and the new price has been determined to be Rs276.54 a liter.
The notification also indicated that there would be a hike in the price of kerosene by Rs18.83 per liter and that there would be an increase in the price of light-speed diesel by Rs18.68 per liter.
On June 15th, the government implemented an Rs24 per liter rise in the price of petrol.
The decision was made by Finance Minister Miftah Ismail as he was addressing a press conference in Islamabad. He cited the fact that the government was no longer able to shoulder the financial burden of additional subsidies.
Miftah Ismail was critical of the policies of the previous administration, saying that they “wrecked the economy of the country.”
According to the finance minister, the current government is the one that suffers the most from this, and he also added that Pakistan is currently incurring a loss of Rs 24.3 on petrol, Rs 59.16 on diesel, Rs. 39.49 for kerosene oil and Rs 39.16 for light diesel oil for each liter sold.