Business

OGRA recommends cut in petroleum prices

ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has forward a summary to the Prime Minister Nawaz Sharif seeking substantial cut in petroleum prices, ARY News reports.

OGRA, in its summary, has suggested the government to reduce petrol price by Rs. 6.25 per litre.

It has also recommended the federal government to slash price of high octane by Rs. 14.14 per litre whereas it has also suggested the government to reduce Rs. 7.86 per litre on high speed diesel.

A reduction of Rs. 11.26 per litre on Kerosene has also been advised whereas slashing of Rs. 10.48 per litre has been recommended on light diesel.

However, the nation will be deprived of relief of Rs. 3 to 5 billion due to the five percent hike in general sales tax on petroleum prices.

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