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Petroleum prices to remain unchanged: PM Shahbaz
In accordance with what Finance Minister Miftah Ismail announced earlier today, Prime Minister Shehbaz Sharif directed the Petroleum Division on Sunday evening to maintain the current petroleum prices in the country.
ISLAMABAD: In accordance with what Finance Minister Miftah Ismail announced earlier today, Prime Minister Shehbaz Sharif directed the Petroleum Division on Sunday evening to maintain the current petroleum prices in the country.
The notification issued by the Ministry of Energy stated, “I am directed to refer to OGRA’s letter No. OGRA-10-12(3)/2020, dated May 13, 2022, on the above subject and to state that the prime minister has approved maintaining the prices of petroleum products at the level of April 16-30, 2022.”
The government will continue to maintain the price differential claims (PDC) of Rs47.02 per litre for petrol, Rs86.71 per litre for high-speed diesel, Rs51.83 per litre for kerosene oil, and Rs67.71 per litre for light diesel oil, according to the notification.
Finance Minister Miftah Ismail stated earlier today that the government has no current plans to increase the prices of petroleum products.
The finance minister stated at a press conference that PM Shehbaz has rejected the proposal to increase petroleum prices today, stating that the government cannot place additional burdens on the populace.
Later, he clarified on Twitter that while the prices of petroleum products will not be increased at this time, the government may have to “revisit the decision soon” due to changing circumstances and global oil prices.
Miftah stated during the press conference that former finance minister Shaukat Tarin had promised the International Monetary Fund (IMF) that the then-government would eliminate all subsidies on petrol.
