ISLAMABAD: Minister for Finance Ishaq Dar has announced to increase prices of petrol and high speed diesel (HSD) by Rs 1 per litre each which would be applicable for the month of April 2017.
According to a statement, the price of petrol was being increased from Rs 73 to Rs 74 per litre and HSD from Rs82 to Rs83 for the month of April, Ishaq Dar addressing a press conference in Dubai said.
He said the rates for kerosene oil and light diesel oil kept unchanged despite recommendation of hike in price for these commodities by Oil and Gas Regulatory Authority (OGRA).
“Based on hike in petroleum prices in the international market, OGRA recommended the government to increase price of petrol by Rs2.28 per litre, HSD by Rs2.04 per litre while the price of Kerosene Oil and Light Diesel Oil was recommended to be increased by Rs13.76 and Rs7.73 per litre respectively”, he added. The minister said the government would bear burden of Rs 3 billion as subsidy during the month for not passing on the increase in international prices to the consumers.
The finance minister is currently on an official visit to Dubai where he would be engaged with the International Monetary Fund (IMF) for Article-4 Consultations.
