In response to an IMF request, the caretaker government will announce an increase in petrol prices.
Govt hike gas on IMF demand: The decision to raise petrol prices had been postponed by the previous PDM administration.
The country’s petrol costs must increase by 45%, according to the International Monetary Fund (IMF).
The IMF has asked that an increase in petrol prices result in income of 435 billion rupees. According to insiders, the lender has not been willing to budge on its demand for a rise in the price of petrol.
According to sources, the government has planned a method to protect small petrol consumers from the rate increase by preventing an increase for them. “Caretaker government will save 64 percent of petrol consumers from the price hike,” according to reports.
According to insiders, the government will likely soon issue a formal notification announcing a 45 percent increase in petrol prices.
According to sources, the increase in petrol prices will take effect on July 1st as originally planned.
“Gas customers will pay their unpaid bills from July to September in full. According to sources, home consumers with increasing gas consumption will also be subject to the increased gas tariff.
Sources claim that petrol use by businesses, bakeries and hotels will undoubtedly increase.
For industrial customers, CNG stations, fertiliser plants and the steel industry, petrol prices are likely to increase.
In order to improve recovery, the IMF has required that gas tariffs be raised from 45 to 50 percent as of July 1 due to ‘Fuel Adjustment Charges’. It has also emphasised a crackdown on electricity and gas theft.