Saturday, October 1, 2022

PM rejects proposal to increase petrol price

PM rejects proposal to increase petrol price

ISLAMABAD (92 News) - Prime Minister (PM) Imran Khan has rejected the Oil and Gas Regulatory Authority's (Ogra) proposal to increase the price of petroleum products on Friday.

The government has decided not to increase the prices of petroleum products as per vision of PM Imran Khan to provide relief to consumers in the holy month of Ramadan.

According to the Finance Division, existing prices of petrol 108.56 rupees per litre, High Speed Diesel Oil 110.76 rupees, Kerosene oil eighty rupees, and Light Diesel Oil 77.65 rupees per litre will continue with effect from tomorrow (Saturday).

The cumulative revenue impact of the decision will be 4.8 billion rupees.

Earlier, the Ogra proposed an increase of Rs 5.75 per litre in the price of petrol. According to the summary sent to the Petroleum Division, it has been proposed to increase the diesel price by Rs 6 per litre. The proposed prices of petrol and diesel have been fixed at the Petroleum Levy rate of Rs 11.23 per litre.

The Finance Ministry will make the decision on the prices in consultation with Prime Minister Imran Khan.