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With hike in petrol prices, Pakistan cuts LPG rate by nearly Rs6/kg as 'New Year gift'

09:54 AM | 1 Jan, 2022
With hike in petrol prices, Pakistan cuts LPG rate by nearly Rs6/kg as 'New Year gift'

ISLAMABAD – With another hike in the prices of petroleum products on the eve of the new year, the federal government has slashed the price of liquefied petroleum gas (LPG) by Rs5.90 per kg for the next month.

A notification issued by the Oil and Gas Regulatory Authority (Ogra), said the new price of Liquefied Petroleum Gas is Rs196.67 per kg. The statement said the new prices will be effective from January 1 (Saturday). Following the decrease, the price of a domestic cylinder of 11.8kg has been reduced by Rs105.

Federal Minister for Information Fawad Chaudhry said the government has reduced the price of LPG as a New Year’s gift for the people after launching a health insurance scheme for Punjab.

“The reduction will directly benefit 72% of the country's population who are deprived of piped gas. The coming year will see a sharp decline in energy and food prices,” Chaudry wrote on Twitter.

The extreme shortage of piped gas supply has forced the majority of citizens to start using LPG. Residents of major metropolises affected by gas load-shedding say that the use of LPG has led to a 10-fold increase in gas prices.

Late Friday, the PTI led government increased the prices of petrol and high-speed diesel (HSD) by Rs4 per litre. “In the fortnightly review of petroleum products prices, Prime Minister Imran Khan has rejected the proposal of Ogra for an increase in prices of petroleum products and advised to increase only Rs4 per litre to meet the petroleum levy target agreed with the IMF (International Monetary Fund),” the statement cited.

Following this development, the price of petrol has been increased from Rs140.82 to Rs144.82, that of HSD from Rs137.62 to Rs141.62, of kerosene from Rs109.53 to Rs113.53 and that of light diesel oil from Rs107.06 to Rs111.06, according to the Finance Division's statement.

Daily Pakistan Global Web Desk

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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