ISLAMABAD: The government has decided to keep prices of petrol and high octane unchanged for the month of June.
“In line with Prime Minister Nawaz Sharif’s policy of providing maximum relief to the people, it has been decided that the prices of petroleum products will not be increased on 1st June, 2016,” says a press release issued by Ministry of Finance in Islamabad Tuesday.
According to Finance Minister Ishaq Dar’s announcement about Petroleum Prices, the government will absorb the full impact of maintaining the prices at the current level.
The absorption of Rs. 6.69 per litre in HSD by the Federal Government would also help the provincial governments to ensure that there is no unnecessary price hike during Ramazan on this account.
Finance Minister has received budget documents signed by the Prime Minister, the press release said.
Earlier, the concerned ministry has decided to increase price of high speed diesel by Rs3.34 per liter, light diesel Rs2.23 and kerosene oil by Rs1.98 per liter.
The Ministry of Petroleum and Natural Resources received a summary from the Ogra on that sought an upward revision in oil prices as international crude rates reached $50 per barrel.
Ogra had recommended Rs0.85 per liter hike in petrol price, high speed diesel Rs6.69, high octane Rs2.18, kerosene oil Rs4.57 and Rs4.47 hike on per liter light diesel. NNI