Finance Minister Ishaq Dar raised the price of petrol by Rs19.95 per litre, raising it to Rs272.95 for the upcoming fortnightly review.
He stated that the decision was made in the best interests of the country.
The announcement, originally set on July 31, was postponed while the government assessed the potential impact on inflation-stricken citizens and sought to preserve or cut rates.
Dar will make the announcement for the final time before his government’s tenure ends on August 12. The price increase was deemed essential because Pakistan had previously agreed with the IMF to impose a petroleum development fee on rates.
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