LAHORE: Pakistan Railways will likely increase the fares in wake of the recent hike in the fuel prices, sources reported on Saturday. 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.