Petrol prices to remain unchanged in Pakistan

In line with Prime Minister’s Imran Khan decision, the Finance Division announced in its fortnightly review that petrol prices would remain unchanged throughout the country.

“In line with the decision of the prime minister in the last fortnightly review, the petroleum product pieces to remain unchanged despite abnormal price increase in the internatioanl market,” said a statement issued by the Finance Division.

The statement added that decision would mean that the government will bear the additional burden of Rs. 30 billion for the fortnight (March 16-32, 2022).

Petroleum Prices Touch New Heights After Fresh Hike

Last month, Prime Minister Imran Khan announced slashing the petrol and diesel price by Rs. 10 per litre.

At the outset of his speech, PM Imran Khan had announced that everybody was of the view that increasing commodity and oil prices were a temporary phenomenon; however, in line with the ongoing situation in Ukraine, the government realised the prices would not fall in the international market.

Criticising the Opposition for hurling unncesassary allegations at the PTI-led government, the PM challenged them to come up with a suitable solution to address the petrol prices issue.

PM Imran Khan had further said that since Pakistan imports petrol, if the prices in the international market, there is nothing the government could do.

Among 190 countries, Pakistan stands at number 25 in terms of lowest petrol and diesel prices,” he had said.

Petrol prices have reached historic high in Pakistan

The premier had further added that in Pakistan, the price of petrol is Rs. 160 per litre, while the price of petrol in India is Rs. 260, Rs. 185 in Bangladesh and Rs. 200 in Turkey.

“If the government stops providing subsidies worth Rs. 70 billion, every worth then the price of petrol in Pakistan would have been Rs. 220 per litre,” he had said.

The premier further said that he received a summary from the Oil and Regulatory Authority (OGRA) to increase charges by Rs. 10 per litre keeping in view the price hike in the international market.

“In order to provide relief to the people, I want to announce that instead of increasing the price of petrol and diesel we are reducing it by Rs. 10 per litre,” he said.

The premier had further announced that the prices would not be increased until the next budget, which is scheduled in June.

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