PM Shehbaz Sharif rejects petroleum prices hike summary
- By Web Desk -
- Jun 15, 2022
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday rejected the Oil and Gas Regulatory Authority (Ogra) summary, seeking an increase in the prices of petroleum products from June 16, ARY News reported.
A notification from the Finance Division in this regard issued here on Wednesday.
The current price of petrol stands at Rs209.86, diesel at Rs204.15, kerosene oil at Rs181.94 and light diesel at Rs178.31.
OGRA PROPOSES HIKE IN PRICES OF PETROL, DIESEL FROM JUNE 16
The oil regulatory authority in a summary had proposed an increase in petroleum prices from June 16 in keeping light with negotiations made with International Monetary Fund (IMF).
The authority had also suggested ending subsidies on fuel prices, said sources.
Read More: ‘GOVT INCREASED PETROLEUM PRICES IN PAKISTAN’S BEST INTEREST’
Despite Rs60 per litre increase in petroleum prices in past 15 days, the government is still providing subsidised petrol at Rs9.3/litre and diesel at Rs23.05/litre.
The federal government recently increased the prices of petroleum products by Rs60 per litre within a span of a week after the IMF refused to release a US$1 billion tranche, demanding the reversal of subsidies on fuel and electricity.