ISLAMABAD: The federal government has increased the prices of petroleum products by Rs30 per litre, with the hike set to go into effect at midnight tonight, ARY News reported on Thursday.
The development was announced by Finance Minister Miftah Ismail while addressing a press conference in Islamabad. After the hike, the price of petrol will be at Rs209.86, diesel at Rs204.15, and kerosene oil at Rs181.56.
It is pertinent to note here that this is the second such increase within a span of two weeks as the coalition government led by Pakistan Muslim League-Nawaz (PML-N) raised the price of petrol by Rs30 per litre on May 26, the biggest increase in fuel price in the country’s history.
Despite tall claims, the coalition government comprising PPP, MQM-P and PML-N as main partners hasn’t managed to bring down the prices of essential commodities and have instead raised prices of petrol and electricity.
NEPRA approves 47% increase in electricity prices
Earlier in the day, National Electric and Power Regulatory Authority (NEPRA) has approved an Rs7.91 increase per unit of electricity.
According to a notification issued by NEPRA, the government has increased the basic tariff per unit of electricity by Rs7.91. The per-unit price has been increased from Rs16.91 to Rs24.82, which is a 47% hike in prices.
NEPRA said that the price hike has been made due to an increase in fuel prices and increases in the cost of production. The new rates would be applied from July 2022.
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