ISLAMABAD: Pakistan Finance Minister Ishaq Dar on Tuesday announced a big hike in petrol and high speed diesel prices.

In a recorded video statement, he said petrol prices will be raised by 19.95 Pakistani rupees ($0.07) per litre and diesel by 19.90 rupees per litre.

Dar said the prices has been increased to reflect the international market prices, and in line with the IMF programme objectives. ($1 = 286.6000 Pakistani rupees) (Reporting by Asif Shahzad; Editing by Kim Coghill)