ISLAMABAD – Despite rising petroleum product prices globally, Prime Minister Imran Khan rejected the proposal for an increase in the petroleum prices for the remaining days of November.
The premier desired that the prices of petroleum products from 16th November 2021 shall remain the same as notified on 4th November 2021 for providing maximum relief to the general public. The said decision has been taken in public interest.
“The government will bear the burden by making adjustments in sales tax rate, etc. Product Existing prices w.e.f. 05-11-2021 Increase / (-) Decrease MS (Petrol) 145.82 00.00 High Speed Diesel (HSD) 142.62 00.00 Kerosene (SKO) 116.53 00.00 Light diesel Oil 114.07 00.00,” said official statement.
In the summary, the Oil and Gas Regulatory Authority (Ogra) suggested that the existing price of petrol be increased by Rs5 to 150.80 per litre and that of high speed diesel (HSD) also by Rs5 to 147.62/litre. It had not suggest an increase in the price of Kerosene and light diesel oil (LDO).
The decision to keep the price unchanged comes as the government is facing backlash over growing inflation in the country. PML-N and PPP hit out at Imran Khan-led government over surge in petroleum prices on November 5, days after it rejected hike in the prices.
On Nov 5, the government the prices by up to Rs8.14 per litre with immediate effect in a bid to revive the International Monetary Fund programme.
Read more: https://pakobserver.net/petrol-prices-in-pakistan-cheapest-in-region-says-pm-after-latest-hike/
