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Pakistani govt announces fuel price hike amid rupee plunge

MADRID, 29 Ene.

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Pakistani govt announces fuel price hike amid rupee plunge

MADRID, 29 Ene. (EUROPA PRESS) -

Pakistan's Finance Minister, Ishaq Dar, announced on Sunday a rise in gasoline and diesel prices across the country after a week witnessing the collapse of the national currency, the rupee, which lost 12 percent of its value. its value against the dollar after the withdrawal of the exchange rate cap.

The minister announced the rise on television just ten minutes before it came into force, in a decision that places the price of gasoline and diesel at around a dollar per liter.

Dar has stressed that the increase is intended to cushion the increase in international crude prices and should, in principle, settle the rumors that have prevailed this week about a possible fuel shortage in the country, reports the newspaper 'Dawn'.

The appearance of the minister also takes place a few days after the arrival of a delegation from the International Monetary Fund (IMF) to discuss the reactivation of the delivery process of a new tranche of the loan granted to Pakistan by the international institution, and which is currently completely paralyzed.

This tranche, estimated at around 1,100 million dollars, should have been disbursed in November of last year as part of the 6,000 million package agreed in 2019.

The IMF loan is seen as vital to the economy of a country mired in a currency crisis, beset by political instability and still reeling from last year's devastating floods that left more than 1,700 dead and $15 billion in property damage. euro.

Keywords:
Pakistán