Govt keeps petroleum prices unchanged

ISLAMABAD – The government has once again kept the oil prices unchanged to provide relief to the masses despite increase in prices in international market.

“In the fortnightly review of petroleum products’ prices, the prime minister has rejected the proposal of OGRA for increase in prices of petroleum products and directed to maintain the prices of petroleum products at the current level,  so as not to burden the consumers with the hike in prices, ” said the ministry of finance in a statement. The government has kept the petrol price at Rs149.86 per litre, High Speed Diesel at Rs144.15 per litre, Light Diesel Oil Rs118.31 and kerosene oil at Rs125.66 per litre.

The government has not increased the oil prices despite making commitment to the International Monetary Fund (IMF) for reviving stall loan programme. Pakistan has recently assured the IMF to increase the petroleum products prices. An official of the ministry of finance informed that government might consider increasing the prices after Eid-ul-Fitr.

Finance Minister Miftah Ismail had recently criticised the former prime minister Imran Khan for keeping oil prices unchanged. He added that Imran Khan has bypassed the ministry of finance for keeping oil prices fixed till June 2022. He said that Economic Coordination Committee (ECC) of the Cabinet Committee   had approved Rs68.74 billion for immediate reimbursement of price differential claims (PDCs) to the oil industry on account of cheaper sales of petroleum products than the cost of purchase. Miftah said that the amount would further increase to Rs96 billion each in next two months.

 

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