ISLAMABAD: Interim Information Minister Ali Zafar on Monday remarked that increase in prices petroleum products was inevitable.
The interim minister asserted that the decision of a price hike was rather a bitter one but had to be taken.
Earlier on Saturday, the interim government approved a significant upward revision in petroleum prices to be effective from July 1, 2018.
According to the notification the increased rates of petroleum products are Rs 7.54, Rs 3.36, Rs 5.92 and Rs 6.55 in petrol, diesel, kerosene oil, light diesel and high-speed diesel.
Earlier, Oil and Gas Regulatory Authority (OGRA) had recommended an increase in the prices of petroleum products for July 2018.
The interim government in the notification said that the price hike was due to the worsening economic condition of the country.
