Govt presents Eid gift to people by keeping petroleum prices intact

ISLAMABAD, June 30 (APP): Presenting an Eid Gift to the people,
the government Thursday decided to keep the prices of four major petroleum products unchanged for the month of July.

“In line with Prime Minister’s policy of providing maximum
relief to the public, it has been decided to maintain the prices of petrol, High Octane Blended Component (HOBC), High Speed Diesel and Kerosene,” Finance Minister, Senator Muhammad Ishaq Dar said while announcing the prices of petroleum products at a press conference here.

“This is an Eid gift for the people,” the Finance Minister
said adding that the government would have to bear Rs 3 billion additional burden as a result of not enhancing the prices of the four major petroleum commodities.

He said that the petrol would be sold at the existing rate of
Rs 64.27, HOBC at Rs 72.68, Kerosen at Rs 43.25 and High Speed
Diesel at Rs 72.52.

The Minister said that the only product prices of which have
been increased is Light Speed Diesel, rate of which has been enhanced from Rs 37.97 to Rs 43.35, an increase of Rs5.38.

He was of the view that since the Light Speed Diesel is
consumed in little quantity, hence it would have little impact on the people.

Earlier, the Oil and Gas Regulatory Authority (OGRA) had
proposed rise in prices of petrol by Rs.1.93 from Rs.64.27 to Rs66.20, HOBC by Rs 3.53 from Rs 72..68 to Rs 66.20, Kerosene by Rs 8.62, from Rs. 43.25 to Rs51.87, High Speed Diesel by Rs3.75 from Rs72.52 to Rs76.27 and Light Speed Diesel by Rs5.38 from Rs37.97 to Rs43.35.