Pakistan Government yesterday hiked the prices of petroleum products to absorb the impact of a rise in international oil prices, officials said.
The hike was part of a series of recent fiscal measures agreed with the International Monetary Fund before it approved a standby credit of nearly $600 million for Pakistan.
Top Petroleum Ministry official Abdullah Yusuf said the price of motor petrol had been increased by 7.5 percent and that of high speed diesel by 19.6 percent.
Pakistan’s Finance Minister Shaukat Aziz said a downward adjustment in petroleum prices could be made next March if prices continued their current fall in the international market. – AFP
(c)--Agence France Presse.
