ISLAMABAD — The federal government of Prime Minister Shehbaz Sharif is likely to review the prices of petroleum products tonight.
According to media reports, the prices of three major petroleum products are likely to go up by Rs5 to Rs12 per litre despite a 14 per cent appreciation of the Pakistani rupee against the US dollar.
The price of high speed diesel is estimated to increase by Rs11.50 per litre, kerosene oil by Rs4.50 per litre and light diesel oil by Rs7.50 per litre.
However, petrol price is likely to decrease by Rs11 per litre from October 16 for the next fortnight if the government maintains the existing tax rates.
As Pakistan is going through an acute economic crisis, Finance Minister Ishaq Dar is currently in the United States trying to have the $27 billion foreign debt rescheduled.