Pakistan fuel prices: Amid unabated inflation in the country, the Pakistani government decided to keep the prices of petrol and diesel unchanged, giving no respite to the common people. Pakistan finance minister Ishaq Dar said that the decision to keep the petroleum products prices unchanged is taken in view of international rates, ARY News reported.
Earlier, Pakistan Defence Minister Khawaja Asif said that the petrol prices will be reduced further before the budget 2023-24. He said the that International Monetary Fund (IMF) has no issues with targeted subsidies.
On May 31, the Pakistan government reduced the prices of petrol, diesel, and other petroleum products for 15 days. He announced the reduction in petrol price by Rs 8 per liter, diesel price by Rs 5 per liter, and light diesel by Rs 5 for the next 15 days.
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Petrol, diesel prices in Pakistan
The new price of petrol was reduced from Rs 270 to Rs 262 per liter, diesel from Rs 258 to Rs 253 per liter, and light diesel from Rs 152 to Rs 147 per liter. No changes were made in the kerosene price which is stable at Rs 164.70 per liter. The new prices of petroleum prices came into effect from June 1. It was the third consecutive reduction in petroleum product prices in Pakistan since April.
Pakistan-IMF talks
The Pakistani Finance Minister further said that talks with the International Monetary Fund (IMF) are underway and it has neither failed nor the negotiation phase has concluded. Dar informed that the ninth review of the IMF programme will be completed this month. "Our talks with the IMF are underway and it has not concluded yet. We have already made the payment for which Fitch expressed concerns," ARY News quoted Dar as saying.
Meanwhile, the IMF on expressed dissatisfaction with Pakistan's recently presented budget. Pakistan has barely enough currency reserves to cover one month's imports. It had hoped to have USD 1.1 billion of the funds released in November - but the IMF has insisted on a number of conditions before it makes any more disbursements.
(With inputs from ANI)
