Petrol prices likely to hike up soon

 Petrol prices likely to hike up soon

Amidst a surge in international market prices, petrol prices are expected to increase in Pakistan, according to sources.

The anticipated hike in petrol prices will be disclosed once the Oil and Gas Regulatory Authority (OGRA) completes its assessment and submits the summary.

Following OGRA’s submission, the summary regarding petrol prices will be forwarded to Prime Minister Shehbaz Sharif for approval. The new prices are expected to be announced today after his endorsement, as per sources.

It is worth noting that the International Monetary Fund (IMF) had previously urged Pakistan to implement an 18% General Sales Tax (GST) on petrol.

The IMF’s directive includes ending the sales tax exemption on all items, including petrol, in line with their recommendations.

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Web Desk

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