ISLAMABAD – The prices of petroleum products are likely to go down slightly from June 16 as the government planned to give relief to the distressed public who are facing record inflation.
Media reports quoting well-informed sourced claim that price of basic commodity is likely to be slashed by nearly Rs2 per litre for the second half of June 2023. As the government planned to pass little relief to inflation-hit masses, price of high-speed diesel (HSD) is likely to become expensive by Rs3.29 per litre.
OGRA reportedly proposed changes in fuel prices based on current rates of GST and petroleum levy.
If the proposal gets the green light from the federal government, the petrol price will drop to Rs260 per litre compared to the current market price of Rs262.
Earlier, Minister of State for Petroleum Musadik Malik said import of discounted crude oil will help government to provide relief to masses amid inflation. He said bilateral ties with Russia were a key pillar of Pakistan’s foreign policy and Islamabad saw Moscow as a longstanding and time-tested friend of it.
Meanwhile, petroleum division authorities said the shipment would not have a significant impact on current petroleum prices as more stock would be required to extend relief to public. They said Pakistan would receive the second ship carrying 55,000 metric tons of Russian oil in next two weeks.
