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Hyderabad

Petrol prices likely to increase 7.14 Rs

ISLAMABAD: 14 May 2022: Power tariff likely to rise in bid to revive stalled IMF programme.work on devising targeted subsidies underway.
Pakistan and IMF are scheduled to hold review talks from May 18.
To revive the stalled IMF programme under the $6 billion Extended Fund Facility (EFF), the government will have to hike the electricity tariff by Rs7.14 per unit through base price and fuel price adjustments as well as increase the petrol prices in a gradual manner.Owing to the fear of backlash, the government is considering hiking only petrol and continue giving subsidies on diesel. The government is also exploring options to convince the provinces to contribute by sharing the burden to absorb the fuel cost.

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