ISLAMABAD: The prices of petrol and diesel in Pakistan will remain unchanged, said Finance Minister Ishaq Dar.
Addressing to the nation, the senior PML-N leader said that the prices of light diesel and kerosene oil has been reduced by Rs10 per litre for the next fortnight.
The petrol is being sold at the rate of Rs272 per litre and diesel is being sold at the price of Rs 293 per litre.
The decision was taken due to the unprecedented inflation rate of 31.55%, the public is currently undergoing immense financial distress, struggling to cope with the exorbitant cost of living. The escalating costs of imported petroleum products have surged to record levels, compounded by the significant depreciation of the Pakistani rupee against the US dollar.
This dire situation has forced the authorities to take a decision in this regard.
On March 15, the federal government jacked up the price of petrol to Rs272. The Finance Ministry had issued the notification for increase in the POL prices, citing depreciation of rupee against the greenback as the main reason behind the price hike.