The finance ministry announced that the new price of gasoline, after the recent increase, has been set at Rs248.74 per litre. The new price for high-speed diesel has been set at Rs276.54 a litre, an increase of Rs13.23 per litre. The statement further noted that the cost of kerosene had increased by Rs18.83 while the cost of light-speed diesel had increased by Rs18.68 per litre.
Miftah Ismail, the finance minister, made the news at a press conference in Islamabad, stating that the government was no longer able to support additional subsidies.
Miftah criticised the previous administration's actions for "degrading the country's economy."
The finance minister claimed that this was mostly the responsibility of the current administration, noting that Pakistan was currently losing money on each litre of gasoline, diesel, kerosene, and light diesel oil, totaling Rs24.3, Rs59.16, Rs39.49, and Rs39.16, respectively.
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