Tuesday Jun 15, 2021
The Finance Ministry on Tuesday approved a Rs2.13/litre hike in petrol and an increase of Rs1.79/litre in the price of High-Speed Diesel.
A notification issued by the ministry also said that the price of kerosene oil is being increased by Rs1.89/litre and light diesel prices will go up by Rs 2.03per litre.
The petrol prices have increased by 2.13%, HSD by 1.79%, kerosene by 1.89%, and light diesel by 2.03%
|Product||Current rate||New rate effective from June 16|
|High Speed Diesel||Rs110.76||Rs112.55|
|Light Diesel Oil ||77.65||79.68|
The increase now means that petrol will now cost Rs110.69, HSD Rs112.55, kerosene oil Rs81.89 and light diesel oil will cost Rs79.68 per litre.
Last week, Finance Minister Shaukat Tarin had indicated that the prices of petroleum products will be increased in the coming month as talks with the International Monetary Fund (IMF) continue over the stabilisation of revenue collection.
Talking on ‘Naya Pakistan’ programme, he said the petroleum levy would be increased up to Rs600 billion in the coming fiscal year so the levy will have to be jacked up in the range of Rs20 to Rs25 per litre, while currently Rs5 per litre levy was being charged.
When asked whether Pakistan will pull out of the IMF programme if the Fund rejects the proposals and sticks to its demands, the finance minister said Pakistan will not exit from the programme, adding that the Fund had asked Pakistan to present its budget so negotiations will continue.
He said Saudi Arabia had agreed to provide oil on deferred payments, but it could not be ascertained how much oil Pakistan will get.