LAHORE: Pakistan Railways will likely increase the fares in wake of the recent hike in the fuel prices, ARY News reported on Saturday, citing sources.
Sources privy to the development said the Pakistan Railways (PR) is bearing the loss of Rs20 million daily due to a rise in the price of diesel. The authorities have forwarded recommendations for the increase in fares by 15 to 20 per cent.
The final approval will be given by the ministry of railways, which is currently being headed by PML-N’s Khawaja Saad Rafique.
Earlier, the federal government surrendered before the International Monetary Fund (IMF) and announced a massive hike in petrol and diesel prices up to Rs30 per litre.
Read more: IMF SAYS PREVIOUS PAKISTANI GOVT VIOLATED AGREEMENT BY GIVING SUBSIDY
While addressing a press conference, Finance Minister Miftah Ismail said that the government decided to increase the prices of petroleum products.
The finance minister Miftah Ismail announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.
After the recent hike, the new price of petrol will be Rs179.86 per litre, high-speed diesel (HSD) Rs174.15, kerosene oil Rs155.56 and light diesel Rs148.31 rupees.
