ISLAMABAD: Crashed stripped Pakistan govt has increased the price of fuel both petrol and diesel by 35 PKR per liter effective from Jan 29th. The finance minister of the country Ishar Dar made the announcement in regards to the hike. The hike has jolted the inflation struck nation.
“We have decided to increase the price of petrol and diesel by Rs 35. The price of kerosene oil and light diesel oil has been increased by Rs18,” Dar said, adding that the new prices would come into effect at 11 am today. Govt announced new prices of Petroleum Products with effect from 11.00 hrs, 29 Jan ,2023.
In a televised address on Sunday, Pakistan FM said said that the Pakistani rupee witnessed devaluation last week and they are witnessing an 11 per cent rise in the price of petroleum products in the international market. The major development came a day after Dar said that Pakistan is the only country founded in the name of Islam and “Allah is responsible for its development and prosperity”.
Long queues were wtinessed on petrol pumps as social media posts has hinted the hike earlier. Petrol was available at only 20 per cent of the petrol pumps in Gujranwala. The shortages of fuel were reported in Rahim Yar Khan, Bahawalpur, Sialkot and Faisalabad regions of Pakistan.
Pakistan has been facing the worst financial cirses ever since the flood washed away nearly all major crops in the country. The flood wornsed the situation as prior to this the edible oil was was sold at Rs 600 per litre in the first week of Augist and ghee nearly Rs 700 per litre. The country’s reserve dropped to a critical level od USD 3.7 billion and need urgent support to avoid default.