Petrol prices in Pakistan to remain unchanged

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ISLAMABAD – The Government of Pakistan on Friday announced that the petroleum prices will remain unchanged for the first half of May.

Special Assistant to PM on Political Communication Dr Shahbaz Gill in a tweet said that the prime minister has decided to not raise the petroleum prices.

He said that the Oil and Gas Regulatory Authority (OGRA) had recommended an increase by up to Rs10 in the petroleum prices.

He said that prices announced on April 15 will remain in effect.

It is pertinent to mention that the Government was not charging any Petroleum Levy (PL) on Kerosene and light diesel oil.

The cumulative revenue impact of the decision of not increasing the petroleum prices will be Rs. 4.8 billion.

On April 15, the federal government had reduced petroleum prices, providing relief to people.

Finance Minister Hammad Azhar in a tweet said that the decision had been taken after Prime Minister Imran Khan approved the cut in prices.

As per the notification, the petrol price had been decreased by Rs 1.79 per litre while the price of high speed diesel had been cut by Rs2.3/litre

Similarly, the government had approved a decrease of Rs 2.6 per litre in kerosene oil price.

Currently, the price of petrol stands at Rs108.35 and diesel’s Rs111.08 per litre.

Earlier on March 31, the government had decreased petrol price by Rs1.5 per litre and diesel price by Rs3/ litre for first half of April 2021.

Read more: https://pakobserver.net/pakistan-decides-to-reopen-trade-with-india-announces-cut-in-petroleum-prices/