In recent news from Pakistan’s business sector, the federal government is anticipated to announce a substantial petrol price hike for April 2024. Our correspondent provides the latest insights into this development.
According to the data:
- Commodity: Petrol
- Current Price (Rs): 279.75
- Expected Price (Rs): 289.69
- Difference (Rs): 9.94 increase
- High-Speed Diesel
- Current Price (Rs): 285.49
- Expected Price (Rs): 284.26
- Difference (Rs): -1.30 decrease
- Light Speed Diesel
- Current Price (Rs): 168.18
- Expected Price (Rs): 168.63
- Difference (Rs): 0.45 increase
- Kerosene Oil
- Current Price (Rs): 188.49
- Expected Price (Rs): 188.66
- Difference (Rs): 0.17 increase
The government’s official announcement regarding the revised petroleum prices is scheduled for March 31, with the new rates taking effect from April 1, 2024.
Key points from the upcoming changes include:
- Petrol Price Surge: A significant increase of Rs9.94 is expected, bringing the price per litre to Rs289.69.
- High-Speed Diesel Adjustment: Contrarily, high-speed diesel is anticipated to witness a decline of Rs1.30, reaching Rs284.26 in Pakistan.
It’s worth noting that the International Monetary Fund (IMF) has recommended imposing an 18% General Sales Tax (GST) on fuel products, reflecting broader economic considerations influencing these price adjustments.
Stay informed with our news updates for the latest developments in Pakistan’s economic landscape, including market trends, policy shifts, and their impact on consumers and businesses.
