Petrol prices likely to be increased to Rs 245 in budget as demanded by IMF
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*The financial noose around the neck of the Pakistani people has tightened further as the government increased the petrol prices by Rs.60 per litre in two spurts of activity bringing the **price to Rs.210 per litre.*
This price level is near the price demanded by the IMF of Rs.245 per litre and may well be brought to this level in the incoming budget.
On the other hand, the rupee maintained its upward drive and gained another 59 paisas against the US dollar in the interbank market.
The local currency has recovered Rs.4.14 in the last four sessions after hitting an all-time low at Rs.202.01 on 26 May and is now valued at Rs.197.87.
[image: Finance Minister Miftah Ismail Pakistan Petrol IMF budget]
As the financial year is coming to close it appears that the FBR has picked up its tax collection efforts and in the process has come near the revised target of tax collection set for 2021-22.
