ISLAMABAD: Finance Minister Muhammad Aurangzeb has said that the prices of petroleum products are increasing in the global market, and every Friday, they will decide to determine the average prices of Petroleum products.
He said that the IMF press release has been issued. According to the IMF, the effects of the Middle East war on the Pakistani economy are being seen. If the war lasts long, the pressure on external payments will increase, and remittances may be affected due to the war.
On the other hand, Petroleum Minister Ali Pervaiz Malik says that a change in the prices of petroleum products will be announced on Friday, and new prices will be determined based on the average prices of petroleum products.
He said that at present, nothing can be said whether petrol will become expensive or not. It should be noted that in view of the situation in the region and the rising oil prices in the global market, the government had increased the price of petrol and diesel by Rs 55 per liter last week.
It is to mentioned here that the closure of the main supply sea route of the Strait of Harmuz have badly affected the supply chain of crude oil. If the war is not stopped, the crisis will engulf the entire region, and this price will hit every country receiving Middle Eastern oil.
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