Finance Minister Miftah Ismail on Friday announced that the federal government had decided to raise the price of petrol by another Rs30, taking it to Rs209 per litre — a week after making a similar increase.
The new prices will come into effect from midnight tonight.
After the hike, the price of petrol will be at Rs209.86, diesel at Rs204.15, kerosene oil at Rs181.94 and light diesel at Rs178.31.
"The government is still facing a loss of around Rs9 in petrol despite a hike of Rs30 as we are not collecting any tax on the fuel," the minister told a press conference in Islamabad.
Ismail said the government was holding talks with the International Monetary Fund (IMF) on a daily basis, adding "we cannot accept all their demands but there are certain points that we have to agree to."
Ismail said the government would ensure the stability in prices of sugar and wheat at Rs70 per kg and Rs40 per kg at utility stores countrywide.
