Merely two days after the interim government took oath in Pakistan, it raised petrol and diesel prices to a record high on Tuesday. The Ministry of Finance, in a statement, said it increased the prices by up to Rs20 per litre amid an abrupt jump in prices in the international market.
According to Pakistan English Daily, the new petrol price will be Rs290.45 per litre from today (Wednesday) after an increase of Rs17.50 per litre– another second massive hike in a fortnight that is likely to stoke further inflation, which had cooled over the past two months.
According to the ministry, the new prices came into affect after consultations with caretaker Prime Minister Anwaarul Haq Kakar, who sworn in on August 14.
As per the report, the government has increased the prices within two weeks. Earlier, the Shehbaz Sharif-led government had increased the prices by Rs 20 per litre. Simply, the government has increased the prices by Rs 40 within 15 days.
This is a breaking story. More details will be added.