Pakistan hikes petrol price by 22.20 rupees a litre - finance ministry

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Pakistan has hiked the price of petrol by 22.20 rupees ($0.0835) a litre to 272 rupees ($1.02) effective on Thursday because of the plummeting value of the country's currency, the finance ministry said in a statement.

The Pakistani rupee has fallen sharply against the dollar since an artificial cap on the local currency was removed last month to allow its value to be decided by a market-based exchange rate.

with the International Monetary Fund for the release of critical bailout funds, and with roughly enough reserves to meet only three weeks of imports, Pakistan is looking to increase revenue despite multi-decade high inflation of 27%.before parliament on Wednesday, proposing to raise the goods and services tax to 18% from 17% to help raise 170 billion rupees in extra revenue during the fiscal year ending in July.

 

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Not smarter like India.Gover was aways spinning around and didn’t done enough for his people. Such a big country and so is in the news from time to time after monitions delivery to Ukraine.not sure what is the benefit-prob current Gov to stay in charge

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