LAHORE MIRROR — The PDM Government imposed another fuel price hike on the poor masses, as petrol prices skyrocketed from Rs19.95 per liter to Rs272.95 for the next fortnightly review, read the notification issued by Oil and Gas Regulatory Authority (OGRA) here on Tuesday.
According to the finance minister, the price of high-speed diesel has been increased by Rs 19.90, bringing the new price to Rs 273.40 per liter.
He further stated that the price of petrol has been raised by Rs 19.95, resulting in a new price of Rs 272.95 per liter.
The finance minister confirmed that these increased prices for petrol and diesel will take effect immediately.
Finance Minister Ishaq Dar announced that the step was taken in line with “national interests.”
The announcement was due on July 31, but the government did not issue new rates as the officials tried to maintain or reduce the rates — keeping in view the impact of the price hike on inflation-weary people.
Dar, who made the announcement as the finance minister for the last time as his government’s term ends on August 12, said the price hike was inevitable as Pakistan had agreed with the IMF on slapping petroleum development levy (PDL) to the rates.
In televised remarks, the finance minister said that his government tried to either reduce or see what could be adjusted in its working. But we all know about our commitments with the IMF on the petroleum development levy.
The finance minister said the government, had it not been in an agreement with the IMF, would have reduced the PDL.
He would not resort to moves that the previous government did as it decreased the petrol price and failed to meet the commitments made with International Monetary Fund (IMF), the finance minister added.
