The Pakistan government Thursday announced to increase the prices of petroleum products by Rs 30 per litre, with the hike set to go into effect at midnight. After the increase, the price of petrol will be at Rs 179.85, diesel at Rs 174.15, kerosene at Rs 155.95 and light diesel at Rs 148.41.

Finance Minister Miftah Ismail made the announcement at a press conference here, a day after the talks between the Pakistan government and the International Monetary Fund (IMF) in Qatar failed to reach an agreement on an economic bailout and the and the IMF staff-level agreement for the revival of the USD 6 billion programme ended.