The government has announced that it will maintain the prices of major petroleum products petrol, diesel, kerosene and high octane at existing levels for the next month and Finance Ministry will be pick up the financial impact of Rs 3 billion.
Talking to official media persons, after a detailed meeting in the ministry to calculate the impact of minting the prices of four major petroleum products at existing levels, Finance Minister Ishaq Dar stated the proposal with respect to increase in prices was not accepted.
Dar stated he was also instructed by the Prime Minister from London against the advice of Oil and Gas Regulatory Authority on an increase in the prices of petroleum products. He said the prices are being maintained at existing levels because of Ramazan and Eid-ul Fitr.
The Minister stated that the regulator recommended an increase of Rs 3.75 in the price of HSD. The price of HSD was proposed to be increased to Rs 76.27 per litre from the existing Rs 72.52.
Petrol price was proposed to be increased from Rs 64.27 to Rs 66.20 per litre, showing an increase of Rs 1.93. The price of kerosene oil was suggested to be increased from Rs 43.25 to Rs 51.87 litre, which means an increase of Rs 8.62 per liter.
However, the government increased the price of Light Diesel Oil as per Ogra recommendations by Rs 5.38 per litre to Rs 43.35 per litre from Rs 37.97 per litre. -Business Recorder