Petroleum prices to remain unchanged as PM Imran rejects OGRA's proposal

09:38 PM | 17 May, 2021
Petroleum prices to remain unchanged as PM Imran rejects OGRA's proposal
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ISLAMABAD – Prime Minister Imran Khan has rejected a proposal to raise the petroleum prices for remaining days of May 2021, in order to provide relief to the public.

Newly-appointed state minister for information, Farrukh Habib in a series of tweets said that the premier had decided against putting the burden of increasing oil prices in the international market on the public.

The national exchequer will have to bear a burden of Rs2.77 billion in order to maintain the prices at the current level.

The government has not only adjusted the petroleum levy but also the deceased sales tax on kerosene oil and light-speed diesel.

The Oil and Gas Regulatory Authority (OGRA) had sent a summary to the Petroleum Division recommending an increase in petroleum prices for the remaining days of May.

On Sunday, it emerged that the government decided to revise the petroleum prices on May 17 due to Eid holidays.

On April 30, the prime minister decided to not raise the price of petroleum products in order to provide relief to the public in the holy month of Ramadan.

Therefore, the price remained unchanged in the country as petrol continued to cost Rs108.56 per litre in the first two week of May. The price of diesel also remained the same as Rs110.76 per litre.

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