ECC approves to fix petrol price at Rs108 per liter
ISLAMABAD (92 News) – The Economic Coordination Committee (ECC) has approved to fix the petrol price at Rs108 per liter.
The meeting was presided over by Finance Adviser Hafeez Shaikh. The Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs14per liter.
Prime Minister Imran Khan had sent the matter of increase in the prices of the POL products.
Moreover, the ECC has increased the diesel price by Rs4.89 per liter.
Sources said that the government would give Rs5 billion as subsidy.
OGRA recommends Rs14 per litre increase in petrol prices
On April 29, the Oil and Gas Regulatory Authority (OGRA) recommended Rs14.37 per litre hike in the price of petrol from May 1.
According to the reports, the OGRA has moved summary of increasing petroleum product prices to the petroleum division.
In its summary, OGRA has suggested Rs4.89 per litre increase in diesel prices, Rs7.46 per litre in kerosene oil and Rs6.40 per litre hike in Light diesel prices.
On the recommendations, the final decision would be made by the Finance Ministry with the consultation of Prime Minister Imran Khan.
OGRA recommends reduction of petrol prices
Meanwhile, the OGRA suggested an increase of Rs1 in the price of light diesel.
The finance ministry will take a decision on the summary after approval from Prime Minister Imran Khan today (on Thursday). The new price will be implemented from February 1, 2019.