Trust me fuel prices will also go down, assures Miftah Ismail

ISLAMABAD: While defending the federal government’s decision to hike the fuel prices, Finance Minister Miftah Ismail assured that the price of petrol will go down in future, ARY News reported on Tuesday.

Addressing a press conference in Islamabad today, the finance minister said clarified that he had not stated that he would not be increasing the fuel prices.

“I had stated that I will not be imposing taxes on petroleum products further,” Miftah Ismail said, adding that he stands behind every decision of the government with “full responsibility”.

He further said that the issue of petrol is automatic and comes from Oil and Gas Regulatory Authority (OGRA). “We do not increase or decrease the tax, we sent it to the prime minister which he approved,” he added.

Miftah Ismail noted that he respects the Pakistan People’s Party (PPP) leadership and would address their reservations over the decision related to the prices of petroleum products.

A day earlier, the federal government announced a hike of Rs6.72 per litre in the price of petrol for the remaining days of August 2022.

According to a notification issued by the Finance Division, petrol will now be priced at Rs233.91 after the latest hike, followed by high speed diesel at Rs244..44, kerosene oil at Rs199.40 and light diesel at Rs191.75.

The price of diesel saw a decrease of Rs0.51 while the per litre rate of light diesel jacked up by Rs0.43 per litre. The price of kerosene oil decreased up to Rs1.67 per litre, the notification read.