• The fuel prices are increased by 29 Percent, where RS24 on petrol and Rs59 on diesel are escalated
• Shehbaz’s government has delivered a third fuel price shock of Rs84 in 20 days. The new petrol prices stand at 233.98 per litre, High-Speed Diesel (HSP) at 263.31, kerosene oil at Rs211.43, and Light Diesel Oil (LDO) at Rs207.47
• Pakistan Good Transporters increased the transport fares by 40 percent

ISLAMABAD: To reduce the fiscal deficit, the fuel subsidies are removed by the finance minister, and fuel prices are increased by 29 Percent, where RS24 on petrol and Rs59 on diesel are escalated, BOL News reports on Thursday.

As per details, to attain the financial support from the International Monetary Fund (IMF), Shehbaz’s government has delivered a third fuel price shock of Rs84 in 20 days. The new petrol prices stand at 233.98 per litre, High-Speed Diesel (HSP) at 263.31, kerosene oil at Rs211.43, and Light Diesel Oil (LDO) at Rs207.47.

READ MORE: Petrol’s price shoots through the roof again

Just like the previous unscheduled news conference by the Finance minister Miftah Ismail near midnight, he repeated the same words that this was not an easy decision to make. He told the media that such decisions are taken to save the country from ‘default.’ “The previous government and challenging global market conditions had left no other options.”

Pakistan Good Transporters increased the transport fares by 40 percent. The price of a one-way ticket from Lahore to Karachi has increased from Rs80,000 to Rs110,000. Fares from Lahore to Quetta have increased significantly, reaching Rs 140,000 from Rs 110,000. The commodity prices will also surpass after the fuel bomb.

“Businesses have been halted due to continuous rise in the fuel prices. The government should take the nails of consciousness. Every business sector is affected by their decisions,” General Secretary of Good Transporters Nabeel Tariq told BOL News.