Islamabad (Pakistan) – IMF has declined to lend USD 6 billion after seven days of negotiations. Hence, Pakistan has increased the fuel prices by Rs 30 (Pakistan Rupee). The cost of one litre of petrol in Islamabad has reached Rs 180 and diesel at Rs 174. One Indian rupee is equivalent to 2.61 Pakistani Rupee.
Finance Minister Miftah Ismael said, ’The Government did not have any alternative but to increase the fuel prices. Even under the new price, we are still incurring a loss of Rs 56 per litre on diesel’.
Industry leaders slam Pak govt for fuel prices hike#BMG #Pakistan #PetrolDieselPriceHike #ShehbazSharif #Tradeandindustry
Read More :https://t.co/e4yn8cMLmj
— Update News 360 English (@Updatenews360E) May 28, 2022
The IMF had stopped the third payout of the 8 billion dollar loan after the collapse of the Imran Khan Government. Pakistan had received approximately 20 billion dollars but they were already spent during Imran Khan’s tenure.
Currently, Pakistan is left with only 12 billion dollars in foreign exchange. Out of which, 9.5 billion dollars are deposits from Saudi Arabia, China, and UAE, which the Government cannot spend.
Pro-India Mike Waltz to be US National Security Advisor !
Exploitation of Direct Foreign Investment Policy by E-commerce Companies : Government to Amend Rules
Had India not bought oil from Russia, the global market would have collapsed : EAM Dr S Jaishankar
British Prime Minister’s Office apologises to Hindus
The terrorists in the Rameswaram Cafe blast in Bengaluru have links with the Islamic State
15 killed in Israeli attack on Syria