In an interesting turn of events, the caretaker government has decided not to increase the price of petroleum products for the month of June 2018. Caretaker Finance Minister Shamshad Akhter said that the ministry had taken a decision not to increase the prices of petroleum products. While speaking to media, one cabinet member asserted that why should we take the blame for price hike which the previous government has forwarded to us.
Aside from not increasing the prices, the caretaker government has also maintained Statutory Regulatory Order issued on May 31st for changes in tax rates by the PML-N government. As per government officials, the prices are to remain unchanged till the end of this month, and after that, if the caretaker premier feels to increase the prices then it will be changed, otherwise, the newly elected government will make necessary changes in the prices of petroleum products.
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Oil and Gas Regulatory Authority (OGRA) forwarded a summary to Ministry of Finance on 30th May 2018 to increase the prices of petroleum products up to PKR 12. The then government didn’t increase the price instead forwarded the task to the caretaker government.
The recommended prices by OGRA was as follow:
- Petrol: PKR 8.37 per litre
- High-Speed Diesel: PKR 12.50 per litre
- Kerosene oil: PKR 8.23 per litre
- Light diesel: PKR 11.65 per litre
The government has increased the prices of petroleum products nine times during the last 12 months, on the contrary, decreased the prices only three times.
The current prices of petroleum products are as follow:
- Petrol– Rs 87.70 per litre
- High-speed Diesel– Rs 98.76 per litre
- Light-speed Diesel– Rs 68.85 per litre
- Kerosene– Rs 79.87 per litre
That’s it from our side, stay tuned for latest updates.
