Petrol Latest Prices

New price (per litre): Petrol — Rs209.86 Diesel — Rs204.15 Light diesel — 178.31 Kerosene oil — Rs181.94 He acknowledged that the lower-income segment of society would be affected the most as a result of the petrol price hike, but noted that the rate of oil has also sky-rocketed in the international market. In response to a question, the finance minister said he was hopeful of reaching an agreement with the IMF in June, but noted that there were some reforms that the government still had to introduce. "The IMF wants to see our budget, so the reforms that we want to introduce will be introduced before the budget. However, we are speaking to the IMF on a daily basis," he said. Ismail said the price hike was inevitable as he had to strike a deal with the international money lender as ex-finance minister Shaukat Tarin had "tied the government's hands" due to the agreements he made with the IMF during his tenure. Importing oil from Russia In response to a question, the finance minister said the previous government did not make substantial efforts to import oil from Russia — a much-touted claim that the PTI has been making. Ismail said when Khan concluded his Russia visit, no newspaper mentioned Islamabad's deal with Moscow a day after that. "If there is a mention of it, let me know." The finance minister added that ex-energy minister Hammad Azhar had written a letter to the Russian authorities about Pakistan's willingness to import oil from Moscow. "But they haven't responded [...] and we also contacted them through diplomatic channels, but they opted to not respond to our offer," the finance minister noted. However, he mentioned that the Russian authorities told Pakistan that the country did not complete the 2015 gas agreement. "So I cannot force the seller," Ismail said. He noted that Pakistan will be willing to import cheap oil from Russia, provided that no sanction will be imposed on Islamabad. China to refinance Pakistan with $2.3 billion The finance minister confirmed that Chinese banks have agreed to refinance Pakistan with $2.3 billion worth of funds which is expected to shore up Pakistan's foreign exchange reserves. In an earlier Twitter, Ismail wrote: "Good news. The terms and conditions for refinancing of RMB 15 billion deposit by Chinese banks (about $2.3 billion) have been agreed."