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Geo News Headlines Today 03 AM | Miftah Ismail | Petrol price hike | SMS 786 | 16 June 2022

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#GeoHeadlines 03 AM | sixteenth June 2022 | #GEONEWS

ISLAMABAD: Federal Finance Minister Miftah Ismail on Wednesday introduced that the federal government was not able to bear subsidies on petroleum merchandise anymore, due to this fact, it has determined to extend the costs of petrol by Rs24.03, taking it to the file excessive of Rs233.89 per litre.

Ranging from June 16, the value of petrol might be Rs233.89 per litre, diesel might be Rs263.31, kerosene oil might be bought for Rs211.43, and the value of sunshine diesel oil might be Rs207.47, the minister introduced.

Commodity Previous value New value Change
Petrol
Rs209.86 | Rs233.89 | +24.03
Diesel Rs204.15 | Rs263.31 | +59.16
Kerosene oil
178.31
Rs211.43
+33.12
Gentle diesel oil
Rs181.94
Rs207.47
+25.53

At the start of the press briefing, Miftah — who was flanked by State Minister for Petroleum Musaddaq Malik — criticised the earlier authorities’s insurance policies that, in keeping with him, “deteriorated the nation’s financial system”.

“Imran Khan had intentionally lowered the costs of petrol by giving subsidies,” Miftah mentioned, including that the incumbent authorities was bearing the brunt of these selections.

He mentioned that at the moment, Pakistan, on each litre, was bearing a lack of Rs24.03 on petrol, Rs59.16 diesel, Rs39.49 kerosene oil, and Rs39.16 on mild diesel oil.

He mentioned that in Might, this loss had gone previous Rs120 billion — thrice higher than operating the bills of the civil authorities, which quantities to Rs40 million.
PTI rejects new petrol costs

Reacting to the event, PTI chief Fawad Chaudhry took to Twitter and introduced that his social gathering had rejected the hike in petroleum merchandise.

“We reject this theft in the course of the evening with all our may,” he wrote. “Improve in petrol costs by this a lot has damaged the center class. Folks ought to participate within the protest towards this incompetent authorities.”

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