ISLAMABAD: Finance Minister Ishaq Dar said Thursday that the government will maintain the same prices of petroleum products for the month of May.
Speaking to media representatives in the federal capital, the minister said that the Oil Gas and Regulatory Authority (Ogra) had proposed an increase of Rs 9.34 per litre in the price of high octane, Rs1 in the prices of petrol, Rs3.38 in the price of light diesel and Rs2 per litre in the price of kerosene oil but the proposal to increase the prices was rejected by the government in this regard.
Dar said that the government has decided to maintain the same prices for the month of May. A day earlier, Ogra had sent a summary to the government to increase the prices of kerosene, light diesel oil (LDO) and high octane blending component (HOBC).
On April 1, the petrol price was increased by Rs4 per litre. Over the past few months, the government has been changing the rate of general sales tax (GST) and petroleum levy to boost revenue collection as international prices maintained a slide.
Apart from Rs6 to Rs14 per litre petroleum levy, the government is charging up to 32 per cent GST on all oil products. At present, the petroleum levy is at its maximum limit permissible under the law.
