Petrol price in Pakistan touches Rs 233.89, diesel Rs 263.31 per litre; third increase in 20 days

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Amid economic crisis, the price of one litre of petrol in Pakistan has reached Rs 233.89 after Rs 24 per litre increase in a single day. Meanwhile, after increasing the price of diesel by Rs 16.31, it will be Rs 263.31 per litre, Pakistan announced this on Wednesday. This is the third such increase in the neighbouring country in the last 20 days. 

Addressing a press conference in Islamabad, the Finance Minister of Pakistan Miftah Ismail said that the new prices have come into effect from midnight on June 15. On the other hand, the new price of kerosene will increase by Rs 29.49 to Rs 211.43. Light diesel will cost Rs 207.47 after an increase of Rs 29.16. 

Read | Austerity measures: How Pakistan plans to save electricity, fuel and money?

Miftah Ismail said that the government has no option but to pass on the impact of international prices to consumers in Pakistan.

Rate increased thrice in 20 days

The Government of Pakistan has increased the price of petrol by more than Rs 84 per litre in the last 20 days. Explaining the reasons for another hike in the prices of petroleum products, the minister said that the international price of petrol was USD 120 per litre.

“Our country is still suffering a loss of Rs 24.03 in petrol, Rs 59.16 in diesel, Rs 29.49 in kerosene and Rs 29.16 in light diesel oil,” Finance Minister said in the press conference. He added that the government is spending Rs 120 billion on petrol subsidy.

“I have been watching the condition of the country for 30 years, but I have never seen such a situation in terms of inflation,” Miftah Ismail said.

Advice to citizens to drink less tea

Amid rise in prices of food items, Pakistan has now requested its citizens to minimise the use of tea. The Minister of Planning and Development of Pakistan, Ahsan Iqbal has asked the people to drink less tea. Let us tell you that the prices of pulses, sugar, vegetables and fruits are touching the sky in Pakistan. Due to which the condition of the common people is getting worse.

According to Minister Ahsan Iqbal, Pakistan has to import tea from outside. If the people of Pakistan reduce the consumption of tea, then it will help in reducing the import expenditure of the government. “Right now we import tea from outside by taking loans. Due to reduction in tea consumption, our import expenditure will come down, which will reduce the pressure on the economic structure,” he said.

2 months ban on import of 41 items

According to reports, the government of Pakistan recently banned the import of 41 items for two months to reduce its import expenditure. However, this import ban did not increase the exchequer much. Due to this, Pakistan has benefited by about USD 600 million in reducing its import bill.

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