Pakistan hikes prices of fuel products by Rs 30 per litre

New prices (per litre):

• Petrol — Rs179.86
• Diesel — Rs174.15
• Kerosene oil — Rs155.56
• Light diesel — Rs148.31

Pakistan and the IMF could not reach a staff-level agreement a day earlier after the global lender said there were deviations from the policies that were agreed upon between both sides. As per Geo News, the PTI-led government had originally agreed to the IMF's demand of raising the price of electricity and petroleum products but, later in March, Imran Khan announced subsidies on both commodities — and the current government was continuing with the same arrangement. The finance minister noted that following the decision to hike the prices, financial markets would witness stability, the rupee would strengthen, and the economy would get a boost.

While invoking the name of India, former Pakistan Prime Minister Imran Khan yet again slammed the Shehbaz Sharif government after the federal government hiked the petrol and diesel prices by PKR 30 per litre. Imran said this “insensitive government” has not pursued the deal made by the Pakistan Tehreek-e-Insaf (PTI) party with Russia for 30 per cent cheaper oil. He went on to praise India, saying strategic ally of the US has managed to reduce fuel prices by PKR 25 per litre by buying cheaper oil from Russia. “Nation starting to pay the price for Imported govt’s subservience before foreign masters with 20% /Rs30 per litre hike in petrol and diesel prices – the highest single price hike in our history. The incompetent & insensitive Govt has not pursued our deal with Russia for 30% cheaper oil,” Imran Khan said in a tweet.