The government on Thursday announced a hike of Rs 14.85 per liter in petrol price, which is the fourth such hike in the last 35 days. 26 May approx Rs.100
According to a notification issued by the Finance Department, after the latest hike, petrol will now cost Rs 248.74, followed by high speed diesel at Rs 276.54, kerosene at Rs 230.20 and light diesel at Rs 226.61.
The new prices will be effective from midnight tonight.
Since coming to power in April, the PML-N-led coalition government had earlier hiked petrol prices by Rs 30 on May 26, followed by Rs 30. June 2 And about a fortnight later, on June 15, it hiked the fuel price by another Rs 24.
according to a dawn According to the report, from July 1 (Friday), the government will start levying Petroleum Development Levy (PDL) at the rate of Rs 10 per liter on all products except Rs 5 per liter on high speed diesel (HSD) under the structural benchmark. The levy will then continue to increase at the rate of Rs 5 per month up to a maximum of Rs 50.
Pakistan on Tuesday received the Memorandum of Economic and Fiscal Policies (MEFP) from the IMF for the seventh and eighth joint review of its $6 billion loan programme, which has been stalled since April.
The MEFP includes certain pre-actions that will be required for implementation before the IMF Board approves Pakistan’s case and subsequent disbursement of funds.
According to the MEFP, Pakistan will have to take at least two more “pre-actions” by the end of July or early August to secure the two joint tranches. Prior actions include passing the federal budget agreed with the IMF and presented to the National Assembly on 24 June and a memorandum of understanding duly signed by provincial governments to jointly provide about 750bn cash surplus to the Centre. to be done.
In all likelihood, two tranches of approximately $918 million (or $687m Special Drawing Rights, or SDRs) will be made available to Pakistan in one go through the last week of July to the first week of August, dawn informed of As the officials said.