The government has increased prices of petroleum products ranging between Rs4 and Rs6 per litre. Adviser to Prime Minister on Finance Miftah Ismail said at a press conference on Sunday that the Oil and Gas Regulatory Authority (Ogra) had recommended an increase of Rs4 to Rs13 in the prices of petroleum products, but the prime minister approved almost half of it.He said the petrol price had been increased by Rs4.06 to Rs81.53 from Rs77.47 and that of kerosene by Rs6.74 to Rs64.32 from Rs57.58 per litre. Ogra had recommended Rs13.58 per litre hike in the kerosene price, he added. The adviser said the price of High Speed Diesel (HSD) has been jacked up by Rs3.95 to Rs89.91 from Rs85.96 per litre, while Ogra had recommended an increase of Rs7.51.
Mr Ismail said the Light Diesel price had been increased by Rs6.25 to Rs58.37 from Rs52.12 per litre. Ogra had proposed an increase of Rs12.59 in its price, he added. “The prices of petroleum products in Pakistan are still lower than in other neighbouring countries,” he claimed and said on Dec 25, the price of per litre petrol was 70 US cents, while it was 83 cents in Sri Lanka, $1.8 in Bangladesh, $1.4 in India and $1.48 in Turkey.
The adviser said the prices of petroleum products had been increasing in the international market, but the government of Pakistan was stuck to its decision that it would not pass on their full impact to the people. In reply to a question, he said the amnesty scheme already existed in the country under which one could bring millions of dollars from abroad without any check and paying taxes. Mr Ismail expressed the hope that country’s economy will improve in 2018 as all indicators were positive.