The federal government of Pakistan is set to raise petrol and diesel prices starting January 16, citing increasing global oil prices and economic challenges. According to sources, the price hike is part of an effort to meet revenue targets and stabilize the national economy.
The exact increment is yet to be announced, but industry experts predict a rise of approximately PKR 10-15 per liter for both fuels. The move is expected to further strain household budgets as inflation continues to rise.
Officials from the Ministry of Finance stated that the decision aligns with ongoing negotiations with the International Monetary Fund (IMF) to fulfill fiscal commitments. Citizens and transporters have expressed concern over the impact this will have on daily commutes, transport fares, and commodity prices.
The new prices will be officially announced by the Ministry of Petroleum in the coming days and will take effect from midnight on January 16.
