Pakistan which is inching towards bankruptcy may drop another 'bomb' on its people in terms of fuel prices.
The Shehbaz Sharif government is likely to further increase petrol prices in the country. The new prices may be effective from February 16.
According to reports, the government may increase petrol cost by as much as 12.5 per cent.
"The ex-depot litre price of petrol is calculated to go up by at least PKR 32.07, High Speed Diesel (HSD) may see an increase of PKR 32.84 per litre, kerosene oil by PKR 28.05 per litre and Light Diesel Oil (LDO) by at least PKR 9.90 per litre from February 16," sources said.
"Likely, the new prices are based on current government taxes and estimated PSO incidentals," the source added.
"The estimated dollar/rupee adjustment applies PKR 15 per litre for both petrol and HSD while it is assumed that the petroleum levy (PL) on HSD will rise to PKR 50 per litre," the source added.
(With inputs from IANS)
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