The government has again increased the prices of petroleum products by announcing an increase in the price of petrol by 24 rupees 3 paise and diesel by 59 rupees 16 paise.
Federal Finance Minister Muftah Ismail while addressing a news conference said that the price of petrol will be increased from Rs 24.3 paise to Rs 233.89 paise from midnight and the price of diesel will be increased by Rs 59.16 paise to Rs 263. The price of kerosene will go up by Rs 29.49 to Rs 211.43 and the price of light diesel will go up by Rs 29.16 to Rs 207.47.
He said that petrol prices are changed on 1st and 15th. When Imran Khan’s government in February considered that the last days of his government had started, they reduced the prices of petroleum products. Taxes and petroleum levies were also abolished, but the losses started in what is called price differential claim.
He said that at that time oil prices in the world market were at 85 85 or 90 90, then the prices in the world market gradually increased, today on June 15 the price of petroleum products in the world market is 120 120.
He said that although we have increased the prices of petroleum products twice but still we are losing Rs. The loss is Rs 49 paise while light diesel is losing Rs 29 16 paise.
The finance minister said that in May, there was a loss of Rs 120 billion in subsidies on petroleum products, while the monthly cost of running a civilian government is Rs 40 billion.