Prices have increased in practically all industries. Petrol prices might decline as a result of falling oil prices globally. While the cost of gasoline might go down by Rs2.86 per litre, the cost of HSD could rise by Rs3.70 per litre.
Starting on November 1, 2022, the cost of high-speed diesel (HSD) is projected to increase during the next two weeks.
The government’s decision to maintain gasoline prices on October 15 shocked consumers, especially as many had anticipated additional decreases in retail prices as a result of the rupee’s stunning rise against the US dollar. Consumers will suffer from the increase in the Petroleum Development Levy on gasoline, but markets will benefit greatly.
On the PDL, it seemed to come down to Ishaq Dar vs the International Monetary Fund. The finance minister announced that he will handle any potential concerns from the lender before lowering the price of gasoline starting on October 1. Esther Perez Ruiz, the IMF’s resident representative in Islamabad, claims that the earlier commitments made by the government are still valid.
The Finance Ministry declared on October 15 that if fuel prices were maintained, the Pakistani people would have “utmost relief.” Head of equity research at Ismail Iqbal Securities, Fahad Rauf, reportedly said.
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