PDM coalition government on Wednesday has increased petrol price by Rs24 per litre.
Finance Minister Miftah Ismail made an announcement today during a press conference in Islamabad, stating that the government is not in a position to continue bearing subsidies.
He said that the new prices will come into effect from 12 am on June 15.
Miftah criticised the previous government’s policies that, according to him, “deteriorated the country’s economy”.
The finance minister said the incumbent government was bearing the brunt of that, adding that currently, Pakistan, on every litre, was bearing a loss of Rs24.3 on petrol, Rs59.16 diesel, Rs39.49 kerosene oil, and Rs39.16 on light diesel oil.
PTI rejects new petrol prices
Reacting to the development, PTI leader Fawad Chaudhry took to Twitter and announced that his party had rejected the hike in petroleum products.
