Pakistan just had a massive Rs19.95/liter fuel price surge in Pakistan in the so-called interest of the nation today. Finance Minister Ishaq Dar revealed on Tuesday that the petrol price in Pakistan would skyrocket by Rs19.95 per liter to reach Rs272.95 for the upcoming fortnightly review. The decision, made in the name of “national interests,” came after a delay in the announcement on July 31, as officials carefully assessed the potential impact of the hike on the inflation-weary population.
As the term of the current government comes to an end on August 12, Dar delivered the announcement in his final role as finance minister. He explained that the price increase was unavoidable due to Pakistan’s commitment to the IMF, necessitating the inclusion of a petroleum development levy into the rates.
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