Pakistan

Petrol Price in Pakistan: PM Shehbaz Sharif rejects summary to increase petrol prices

Petrol Price in Pakistan: PM Shehbaz Sharif rejects summary to increase petrol prices

Prime Minister Shehbaz Sharif rejected the summary of the Oil and Gas Regulatory Authority (Ogra), which sought an increase in petroleum product prices beginning June 16.

On Wednesday, the Finance Division issued a notification in this regard.

Petrol costs Rs209.86, diesel costs Rs204.15, kerosene oil costs Rs181.94 and light diesel costs Rs178.31.

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In light of negotiations with the International Monetary Fund, the oil regulatory authority proposed a rise in petroleum prices starting June 16 in a summary (IMF).

According to insiders, the authority has also considered removing fuel price subsidies.

Despite a Rs60 spike in petrol prices in the last 15 days, the government continues to provide subsidised petrol.

After the IMF refused to provide a US$1 billion tranche in exchange for the reversal of fuel and energy subsidies, the federal government increased the price of petroleum goods by Rs60 per litre in less than a week.

RELATED: How to Apply for Sasta Petrol Scheme – Step by Step Guide

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Pakistan

Ahmed Khan is a Senior Editor at Pakistan Lounge and joined in July 2021. Formerly News Editor at a Local News website

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