The federal government has increased the petrol and diesel prices by Rs30 per litre in Pakistan. This has the highest one time increase in a single day ever in the history of Pakistan, i.e. 20%. This has been termed equivalent to a petrol bomb, as considered by the poor masses.
The decision will come in effect from tomorrow (May 27).
Finance Minister Miftah Ismail announced the decision today in a tweet today.
As per his tweet. The price of petrol would be Rs179.86 per litre and diesel would be Rs174.15 per litre.
The development comes after the International Monetary Fund (IMF) emphasised the importance of rolling back fuel and power subsidies.
