Islamabad, 30 January 2023 (GNP): Ishaq Dar, the finance minister of Pakistan, in a recent conference, announced that the federal government has raised the cost of gasoline and fuel by Rupees 35. Following the elimination of the informal cap, the rupee recently lost value in relation to the dollar, which led to the most recent price increase.
The finance minister claimed in a televised speech that social media rumours of a 50–80 rupee increase in the pric Ishaq Dar, the finance minister of Pakistan, in a recent conference, announced that the federal government has raised the cost of gasoline and fuel by Rupees e of gasoline and diesel were to blame for the allegations of artificial fuel shortages. People reportedly rushed to gas stations because of price rumours, but the Oil & Gas Regulatory Authority (OGRA) urged people to cease circulating false and misleading information. The government promptly raised the price of petroleum-based items due in part to the rumours.
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Finance Minister Ishaq Dar revealed that OGRA had asked the federal government and Prime Minister Shehbaz Sharif to immediately apply the revised rates in order to stop temporary stockpiling and rumours of petrol scarcity. During the conference, Ishaq Dar acknowledged that market speculators had caused artificial shortages.
