Just Earth News | @justearthnews | 16 Feb 2022, 06:04 am Print
Pakistan Petroleum Products Representational image by Erik Mclean on Unsplash
Islamabad: The Pakistani government on Wednesday hiked prices of all petroleum products by Rs 10 to Rs 12 per litre for next fortnight ending on Feb 28, putting pressure on citizens, media reports said on Wednesday.
This is perhaps the highest ever hike in prices of these products seen in the country.
The Ministry of Finance announced the decision after Prime Minister Imran Khan agreed to raise levy on all petroleum products by Rs 4 per litre to honour commitment made with the IMF for smooth continuation of ongoing Extended Fund Facility (EFF). However, the GST rate on all these products was kept unchanged at zero, reports The Dawn.
The benchmark crude prices have increased by about 3 percent to $95 per barrel in the international market during the last fortnight, the newspaper reported.
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