ISLAMABAD: According to a notice from the Ministry of Finance, the federal government recommended maintaining the pricing of petroleum products constant on Tuesday.
Prime Minister Shehbaz Sharif has asked the ministry to keep the price published on May 27 — the day the federal government raised the price of petroleum goods by Rs30.
“With a view to providing maximum alleviation to customers,” the Petroleum Division stated, “the prime minister has instructed that the existing pricing of petroleum goods, as announced on 27 May 2022, stay unaltered not with standing income losses owing to increased petroleum prices internationally.”
Petrol Price in Pakistan
Following the International Monetary Fund’s (IMF) focus on ending commodity subsidies, Finance Minister Miftah Ismail announced an increase in the price of petroleum goods last week.
The finance minister acknowledged that part of the cost had to be transferred to the people, but the government was still losing money despite the enormous rise in the price of petroleum goods.
Following the rise in the price of petroleum, the markets returned to normalcy, and the rupee began to appreciate against the dollar, eventually ceasing to set new highs.
The finance minister also said that the government will strike an agreement with the international money lender on a personnel level by the end of June.