It was stated that Ogra had proposed the increase in view of the rising oil prices in the global market. On October 16, the government increased the prices of petroleum products up to Rs12.44 per litre. Pakistan is a net importer of petroleum products. Therefore, any increase in the world oil prices impacts the domestic prices. Read Dharejo slams petroleum products’ price hikeIn addition, Pakistani consumers are compelled to pay the cost of depreciation of rupee against the dollar.

Source: The Express Tribune October 31, 2021 08:24 UTC