Petrol and fuel prices in Pakistan have surpassed Rs 270, prompting outrage; the administration stated the move was made in the "national interest"

 Petrol and fuel prices in Pakistan have surpassed Rs 270, prompting outrage; the administration stated the move was made in the "national interest"

Ishaq Dar, Pakistan's finance minister, announced a significant rise in petrol and diesel prices on Tuesday of Rs 19 per litre. He said that this choice was made in accordance with what the International Monetary Fund (IMF) demanded. The updated costs are valid as of right now. According to the finance minister, if the government had not reached a deal with the IMF, the Petroleum Development Levy (PDL) would have been reduced to relieve the public.

Islamabad: Pakistan's populace is suffering as a result of growing prices. Inflation is a problem for the entire nation. The Shahbaz administration has dealt the populace once another severe blow in this circumstance. Diesel and gasoline rates in Pakistan have now increased by Rs 19 per litre as of Tuesday. As a result, the cost of petrol has increased to Rs. 272.95 and the cost of diesel to Rs. 273.40 per litre. Ishaq Dar, Pakistan's finance minister, referred to this price increase as being in the "national interest".

Ishaq Dar, Pakistan's finance minister, reportedly announced on Tuesday a significant hike in the price of gasoline and diesel by Rs 19 per litre. He said that this choice was made in response to the International Monetary Fund's (IMF) requirements. The updated costs are valid as of right now. According to the finance minister, if the government had not reached a deal with the IMF, the Petroleum Development Levy (PDL) would have been reduced to provide relief to the general populace.

In Pakistan, the cost of fuel and diesel has not decreased in recent years either. A litre of petrol formerly cost Rs 253 and a litre of diesel Rs 253.50 in Pakistan. Because it is constrained by IMF requirements, the Pakistani government is compelled to raise these prices. To make sure that the $3 billion standby agreement runs without a hitch, the IMF has put stringent requirements in place. The deal includes the raising of the fuel charge to Rs 60 per litre as one of its prerequisites.