ISLAMABAD: Petroleum prices are likely to surge Rs150 mark for the first time in country’s history. For the first time in the history of Pakistan, petrol price is expected to exceed Rs150 per litre amid soaring prices of crude oil in the international market.
In the international market, the prices of petrol and diesel have been increased by Rs6 and Rs5 per litre respectively since February 1, said the well-placed sources in energy ministry said.
If the government decides to pass on the burden of rising oil prices in the international market on the consumers, then the prices of petrol and diesel could shoot up by Rs13 and Rs18 per litre from February 16, reports said.
Currently, petrol is being sold in the county at Rs147.83 per litre, high-speed diesel (HSD) at Rs144.62 and light diesel oil (LDO) at Rs114.54 per litre in the country.
On February 10, Finance Minister Shaukat Tarin had indicated an increase in petroleum prices in-country in the coming days, adding that the government cannot lower petroleum product prices artificially.
Federal Minister for Finance Shaukat Tarin told the media that the International Monetary Fund (IMF) wants us to remove tax exemption from the provident fund and that this will create a burden for the poor.
Therefore, the government will negotiate with the IMF on the matter of tax exemption on provident funds, he had added.
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