ISLAMABAD: Prime Minister Imran Khan on Friday rejected a recommendation by the Oil and Gas Regulatory Authority (Ogra) to raise fuel prices by Rs55.78 a liter to help the public.
The Ogra has provided a summary proposing a price rise of Rs55.78 per litre for petrol, Rs68.87 per litre for high-speed diesel, Rs37.82 per litre for kerosene oil, and Rs40.24 per litre for light diesel.
Prime Minister Imran Khan has rejected the gasoline price in order to bring relief to the people, and the government has agreed to cover the increase with an Rs33 billion subsidy. In terms of subsidy and income, the entire loss would be Rs63 billion.
Following Prime Minister Imran Khan’s decision on February 28, the federal government has decided to keep the pricing of petroleum products unchanged for the next 15 days in April.
The petrol price was kept at Rs149.86 per litre, high-speed diesel (HSD) at Rs144.15, kerosene oil at Rs125.56, and light diesel at Rs118.31, according to a notice released by the Finance Ministry.
From April 1 to 15, the existing gasoline prices will be in effect. According to the announcement, the federal government would shoulder a Rs33 billion financial burden for maintaining the former POL rates.
On February 28, Prime Minister Imran Khan announced a Rs10 per litre cut in fuel and diesel rates, as well as a Rs5 per unit drop in electricity tariffs.
He had announced a relief package for citizens, which included lower gasoline costs, lower electricity tariffs, and tax breaks for the IT industry, among other things.