ISLAMABAD: The government Friday announced reduction of petroleum products up to Rs 4.92 per litre with effect from August 1.
Addressing a press conference here, Minister for Finance Mohammad Ishaq Dar said, “We have reduced the prices of five petroleum products under the directives of the Prime Minister in order to provide relief to the people, especially the common man.”
He said that last month the government did not increase the prices of petroleum products despite the fact the same had risen in the international market and provided a subsidy of Rs 2.5 billion. The loss incurred by the government in July, he added, would be partially recovered in the month of August.
Highlighting the decrease in prices of various petroleum products, the minister said that the price of MS (petrol) had been reduced by Rs 1.03 per litre to Rs 76.76 from Rs 77.79.
Similarly, the price of High Speed Diesel had been reduced by Rs 2.06 per litre to Rs 85.05 from Rs 87.11, HOBC by Rs 1.02 per litre to Rs 82.79 from Rs 83.81, he added.
Likewise, Dar said the price of Kerosene oil had been reduced by Rs 4.83 per litre from Rs 64.94 to Rs 60.11 per litre.
“The price of Light Diesel Oil has also been lowered by Rs 4.92 per litre from Rs 61.51 per litre to Rs 56.59 per liter,” he added.
