Business

Crisis-Struck Petrol And Diesel Prices Crosses Rs 300 Marks In Pakistan

The petrol and diesel prices in Pakistan have surpassed the Rs 300 mark for the first time in the country’s history.

As Pakistan lurches from crisis to crisis, the finance ministry stated last evening that the price of petrol has been increased by Rs 14.91, and the price of high-speed diesel (HSD) by Rs 18.44.

While the price of petrol is currently Rs 305.36, the price of diesel has risen to Rs 311.84.

Pakistan is in the grip of its greatest economic crisis in decades. Recent economic reforms have resulted in historically high inflation and interest rates, putting a strain on regular people and enterprises.

The Pakistani rupee’s persistent depreciation has pushed the central bank to hike interest rates. The country’s currency is trading at a record low of 305.6 per US dollar, down from Tuesday’s close of 304.4.

Last month, the government swore in a caretaker cabinet led by interim Prime Minister Anwaar-ul-Haq Kakar, tasked with governing the country until new elections, which could be held after November.

The first priority for the caretaker cabinet will be to guide Pakistan towards economic stability, with the $350 billion economy on a tight recovery path following a last-minute $3 billion bailout deal from the International Monetary Fund.

Also read: Despite Red Flags, JPMorgan Lent Jeffrey Epstein $1 Billion

Spriha Rai

Recent Posts

Maha Kumbh 2025: Yogi Government’s Strategic Coordination Ensures Timely Preparations

For Maha Kumbh 2025, preparations are in full swing as authorities work to ensure all…

12 hours ago

In Special Gesture, Kuwait’s Prime Minister Sees-Off PM Modi At Airport After Conclusion Of Historic Visit

Prime Minister Narendra Modi wrapped up his two-day visit to Kuwait on Sunday evening. In…

13 hours ago

Maha Kumbh 2025: Shri Panchdashnam Aawahan Akhara Makes Grand Entry Into Maha Kumbh City

Maha Kumbh 2025 with preparations for the Maha Sammelan are in full swing as 13…

14 hours ago

India’s Unifying Initiative: MRM Declares Bhagwat’s Message As The Foundation Of National Unity

The MRM strongly endorsed Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat’s statement on temple-mosque disputes.…

14 hours ago

Maha Kumbh-2025: Prayagraj Mela Authority Deploys Advanced Sanitation Technology

For Maha Kumbh-2025, the Prayagraj Mela Authority has made extensive preparations to provide a clean…

15 hours ago

PM Narendra Modi To Attend Christmas Celebrations At CBCI In New Delhi

Prime Minister Narendra Modi is all set to attend the Christmas celebrations at CBCI Centre…

15 hours ago