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Friday, July 19, 2024  
12 Muharram 1446  

Govt decides to keep petroleum prices unchanged

Finance Division says the decision is taken despite globally rising petroleum prices
Representational image
Representational image

The federal government has decided to keep the prices of petroleum products unchanged from June 1 provide maximum relief to the consumers.

“With the view to provide maximum relief to the consumers the Prime Minister of Pakistan has directed that the current prices of petroleum products as notified on May 27, 2022 shall remain unchanged, despite the loss in revenue due to globally rising petroleum prices,” said the notification issued by the Finance Division.

According to the notification, price of petrol will remain at Rs 179.86 per liter, high speed diesel at Rs 174.15 per liter, kerosene at Rs 155.56 per liter and light diesel at Rs 148.31 per liter.

The Finance Ministry said that the government was giving a subsidy of Rs 39.32 on petrol, Rs 53.5 on diesel and Rs 26.30 on kerosene.

On May 27 the government had notified an increase of Rs 30 per litre on prices of petroleum products in a bid to meet the International Monetary Fund (IMF) bailout conditions.

The IMF during its last meeting had urged Pakistan to end subsidies on petroleum products as well as on electricity to revive the programme.

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