Govt hikes petrol price by Rs19.95 per litre
The decision was announced by Finance Minister Ishaq Dar during a live broadcast, citing the necessity of adhering to the terms agreed upon with the IMF.The staggering increase in fuel prices has sent shockwaves through the masses, already grappling with a host of economic burdens. However, Dar emphasised that the government is committed to passing on the minimum possible burden to the people, as directed by Prime Minister Shehbaz Sharif.“The decision to hike petrol and diesel prices has been taken in the best interest of Pakistan,” asserted Finance Minister Dar.“While there are negative consequences for deviating from the IMF deal, we must also consider the rising international oil prices in recent days.”In a consultation with the Oil and Gas Regulatory Authority (OGRA), it was determined that the international oil market fluctuations necessitated an adjustment in fuel prices. The government aims to balance national interests with the pressing need for economic stability.“Being part of the IMF program and adhering to the standby agreement are crucial for Pakistan’s economic revival,” said Dar, addressing concerns over previous instances when the government failed to meet its commitments. “We cannot afford to repeat past mistakes, and thus, the petroleum levy remains a crucial aspect of the IMF deal.” SuchTV, 01 Aug, 2023
Visit to News Source Webpage
More Business & Finance News
View More News
Disclaimer:
All information on this page are taken from third party reliable sources of relevant industry channels, with simple aim just for general information for our users. Hamariweb never endorse or recommend for any trading advice as well as accuracy of data provided here.