Islamabad: Pakistan’s financial troubles seem to be increasing day by day. The government of Pakistan has again hiked the prices of several petroleum products by another Rs 30. Also, the prices of electricity have also been raised by Rs 7.9 per unit. This comes after Chinese banks have agreed to refinance Pakistan with $2.3 billion credit. The funds are expected to shore up foreign exchange reserves of Pakistan. After the hike in fuel prices, petrol will now cost Rs 209.86 per litre, diesel has reached Rs 204.15 per litre and kerosene oil is sold at Rs 181.94 per litre.
Finance Minister Miftah Ismail announced the hike in a press conference in Islamabad. The new prices will come into effect from midnight, the minister said. The government had made a similar raise of Rs 30/ litre on petrol a week ago.
“The government is still facing a loss of around Rs 9 in petrol despite a hike of Rs 30 as we are not collecting any tax on the fuel,” the minister added.
For next fiscal year 2022-23, Pakistan’s National Electric Power Regulatory Authority (NEPRA) has increased the basic power tariff by Rs 7.9078 per kWh. The basic power tariff currently in Pakistan is Rs 16.91 per unit. Now, it will be over Rs 24 per unit.