Petrol price increases by Rs2 per litre

ISLAMABAD: The price of petrol in Pakistan has gone up by Rs2 per litre from today (Thursday), according to Special Assistant to Prime Minister on Political Communication Shahbaz Gill.

Gill said that the Oil and Gas Regulatory Authority (Ogra) had recommended an increase of Rs6.05, but Prime Minister Imran Khan rejected it, instead approving an increase of Rs2 per litre for petrol, Geo News reported. The premier’s aide said that the recommended increase by Ogra was in accordance with a rise in fuel prices in the international market.

According to Gill, the recommendation also included an increase of Rs3.44 for the price of diesel but the prime minister approved an increase of only Rs1.44. A notification issued by the Ministry of Finance said that kerosene oil would see an increase of Rs3.86 per litre, whereas light diesel oil would go up by Rs3.72.

Earlier in June, Minister for Finance Shaukat Tarin had indicated that the prices of petroleum products would increase in the coming month as talks with IMF continue over the stabilisation of revenue collection.

Talking on Geo News programme “Naya Pakistan”, he said the petroleum levy would be increased up to Rs600 billion in the coming fiscal year so the levy will have to be jacked up in the range of Rs20 to Rs25 per litre, while currently a Rs5 per litre levy was being charged.

When asked whether Pakistan will pull out of the IMF programme if the Fund rejects the proposals and sticks to its demands, the finance minister said Pakistan will not exit from the programme. He said Saudi Arabia had agreed to provide oil on deferred payments, but it could not be ascertained how much oil Pakistan will get.

Asim Yasin adds: PPP Chiarman Bilawal Bhutto Zardari while condemning the increase in Petroleum prices and said the first shock of the anti-people budget has come with the increase of petroleum products.

“Today Petrol prices up by Rs2 and gradually prices of all essential items including electricity and gas will go further high,” he said while condemning the rise in prices of the petroleum products.