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Petrol price hikes by Rs 1.77 and High Speed Diesel by Rs. 2

Islamabad: Federal government has announce hike in petroleum prices in Pakistan; Rs 1.77 per liter increase is observed in the price of petrol and Rs 2 per liter is observed in the price of High Speed Diesel. These prices are applicable for the fortnight, January 16 to January 31, 2017.

Ishaq Dar, Finance Minister, held a press conference on January 16 and briefed that the increase in the price of petrol and High Speed Diesel is accepted for the next fortnight on the basis of proposed summary by Oil and Gas Regulatory Authority (OGRA).

He briefed media that OGRA also proposed the summary to hike the prices of Kerosene oil by Rs 12 liter, light speed diesel by Rs. 10 liter and the hike proposed for high speed was Rs. 5 liter.

Ishaq Dar briefed media that the prices of kerosene oil and low speed diesels are not increased ad Prime Minister advised to provide more facilities to petroleum users. Most of the public uses Kerosene oil and low speed petroleum so their prices are not hiked; government is not getting sales tax on the prices of these items.

Dar briefed more, despite of the increase in petroleum prices throughout the world, government of Pakistan did not increase the price from April 2016 to this year and government also beard a loss on it.