ISLAMABAD: The government, rejecting the Oil and Gas Regulatory Authority’s (Ogra) summery, has decided to keep the petroleum prices unchanged for the next month.
Addressing a news conference, Finance Minister Ishaq Dar said that the government has also decided to decrease the GST rate from 27 percent to 18 percent for four products of petroleum while the GST rate for High Speed Diesel will be enhanced from 27 percent to 37 percent.
Dar said that now the price of petrol would stand at Rs70.29 per litre, High Octane Rs80.31 per litre, kerosene Rs61.44, High Speed Diesel Rs80.61 and Light Diesel Rs97.94 per litre from March 1, 2015.
The federal minister said that the government would take hit of Rs5.11 per litre on High Octane, Kerscene Rs2.07 per litre, Light Diesel 85 paisas, HSD 31 paisa and petrol 18 paisas per litre. He said that Ogra had proposed an increase in the prices of High Octane by Rs12.62 per litre that could go up to Rs92.93, kerosene by Rs7.32 per litre that could be increased to Rs67.76 and Light Diesel by Rs5.50 that could go up to Rs63.44 per litre.
