ISLAMABAD, May 27(ABC): Finance Minister Miftah Ismail announced Thursday a massive hike in the price of petroleum products after the International Monetary Fund (IMF) emphasised abolishing the subsidies on commodities.
In a press conference, the finance minister said the government has decided to hike the price of petrol, diesel, kerosene oil, and light diesel by Rs30, effectively from May 27.
New prices (per litre):
- Petrol — Rs179.86
- Diesel — Rs174.15
- Kerosene oil — Rs155.56
- Light diesel — Rs148.31