Govt. Increased Petrol-Diesel, Flour Bag and Electricity Prices, amid IMF talks.

ISLAMABAD: The federal government has surrendered before the International Monetary Fund (IMF) and announced a massive hike in petrol and diesel prices up to Rs30 per litre.

While addressing a press conference, Finance Minister Miftah Ismail said that the government has decided to increase the prices of petroleum products which will be taken into effect tonight at 12:00 midnight.

The finance minister announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.

After the recent hike, the new price of petrol will be Rs179.86 per litre, high-speed diesel (HSD) Rs174.15, kerosene oil Rs155.56 and light diesel Rs148.31 rupees.

ISLAMABAD: Federal government on Friday hiked flour prices at the Utility Stores with a 10-kilogram bag witnessing an increase by Rs90.

According to a notification issued by the Utility Stores Corporation, Rs 9 per kilogram has been raised on flour, resulting in a hike of Rs90 on a 10 kilograms bag and Rs180 on a 20-Kg bag.

The 20-Kg bag that was previously being sold at Rs800 will now cost Rs980 while 10-kg bag will cost Rs490, contrary to Rs400 previously.

ISLAMABAD: Federal government has decided to hike electricity prices by Rs7 besides privatization of profitable public-owned DISCOs after talks with the International Monetary Fund (IMF) for the release of a US$1 billion tranche.

According to sources privy to the matter, the hike of Rs 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges. “The hike in power tariff will be applicable from July 01,” they said.

Moreover, the IMF has also expressed concern over the Rs 2,600 billion power tariff and suggested the government immediately privatize the public-owned profitable DISCOs.  It has further been suggested to handover loss-making DISCOs to provinces.

Furthermore, the sources said that the NEPRA will assist the Auditor General of Pakistan in proper audit of the public-owned DISCOs. “The IMF is also pressurizing the government to immediately privatize public-owned power generation companies,” they said.