ISLAMABAD : August 16,2023: Just minutes before mid night on Tuesday, caretaker government announced major increase in the rates of petroleum products .
The interim government of Anwaarul Haq opted for a massive increase in the prices of petroleum products for the next two weeks. The Finance ministry issued a notification of the new petroleum product prices just five minutes to midnight on Tuesday.
The notification.said petrol and diesel prices have been increased by Rs 17.50 and Rs 20 per litre respectively with immediate effect and the new rates will come into force immediately. With the new increase, petrol prices have gone up to Rs 290.45 a litre for the next two weeks and diesel rates with an increase of Rs 20 have gone up to Rs 293.40 per litre.
The new rates of petroleum products will remain effective till August 31. The government, as per policy, reviews the rates of petroleum products twice a month. The new increase in petroleum product price will stoke inflation to open up yet another floodgate of price-hike in Pakistan.
The people, who expect relief in petrol prices from the caretakers, are shocked over massive increase in petroleum product prices.
