Petrol DieselImage Credit source: File Photo
Between poverty and chaos, the Government of Pakistan has given great relief to its people. The Government of Pakistan has cut the price of petrol and diesel by Rs 30 per litre. The new prices of petrol and diesel have come into force in the country from May 16. The Government of Pakistan says that it wants to give the benefit of the fall in the international price of petroleum products to the common people, that is why it has cut the price of fuel.
Fuel became cheaper by Rs 30
Islamabad announced on May 15 that the fuel price has been cut by Rs 30 per litre. The price of petrol has been reduced from Rs 282 to Rs 270, which means Rs 12 per liter has been cut. The price of high speed diesel has been reduced from Rs 288 to Rs 258, which means it has been reduced by Rs 30. The price of kerosene and light diesel has been reduced by 12. Whose light diesel has been increased from Rs 164.68 to Rs 152.68. At the same time, Kerison has gone from Rs 176.02 to Rs 164.07.
Prices were reduced earlier also
This is not the first time that the Pakistani government has decided to reduce the oil prices in the country. Earlier this month, the Pakistani government decided to reduce oil prices in the country for the first half of May 2023. An official account of the Government of Pakistan, pkrevenue, tweeted that the government is going to provide great relief to the general public. The government has announced a steep reduction in the prices of high-speed diesel by Rs 5 per litre, light diesel oil by Rs 10 per liter and kerosene by Rs 10 per liter for the next 15 days. There has been no change in the prices of petrol.
Pakistan is facing troubles
The prices of petroleum products in Pakistan have been rising steadily since 2022, while the government awaits the stalled IMF bailout. In addition, Pakistan is facing rising inflation, a weak currency and a slowdown in economic activity. Meanwhile, another problem has arisen for the Government of Pakistan. IMF has asked to arrange $ 8 billion to repay the loan on 13 May. By the way, Pakistani Finance Minister Ishaq Dar had said last week that Pakistan will not take any drastic decision on the demands of the IMF. He said whether to sign the staff-level agreement or not is entirely up to the IMF.