Petrol Price Hike Expected Ahead of Eid Ul Fitr

ISLAMABAD: Newly appointed Finance Minister Miftah Ismail is in Washington D.C for a fresh round of talks with IMF Officials to restore the IMF Program in Pakistan.

According to the details, Finance Minister Miftah Ismail said that in a meeting held with IMF officials in DC, ‘IMF said to cut down the subsidy on Petrol & Diesel’ already we had agreed that we cannot afford and give subsidies on Petrol, so we have to reduce it.

It is expected that Finance Minister Miftah Ismail will increase Petrol Prices in Pakistan on his return from Washington D.C ahead of Eid Ul Fitr, Government cannot continue to subsidies Petrol & Diesel prices.

The former Government led by Prime Minister Imran Khan planned to keep the Petrol Prices in Pakistan stable until the next fiscal budget 2022-23, However, the International Crude Oil prices are skyrocketing due to the ongoing War between Russia and Ukraine, The Government of Pakistan cannot sustain the loss in form of subsidy.

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