ISLAMABAD: Prime Minister Nawaz Sharif has turned down Oil and Gas Regulatory Authority’s (Ogra) summary to raise petroleum prices during the holy month of Ramazan.
After rejection of the summary, the rates of POL products will remain unchanged for July 2015.
According to the Finance Ministry, the prices of petrol will remain at Rs77.79 per litre during July this year. The price of High Speed Diesel (HSD) will stay at Rs87.12 per litre with effect from July 1, 2015. The price of kerosene will remain at Rs64.94 per litre and HOBC Rs83.81 litre during July this year. The Oil and Gas Regulatory Authority (Ogra) had recommended in its summary to raise petrol prices by Rs4.26 per litre. The Ogra had proposed a reduction in the price of High Speed Diesel by 60 paisas.
According to a statement issued by the Finance Ministry, Finance Minister Ishaq Dar said that with a view to facilitate people in the holy month of Ramazan, the decision not to increase the POL prices has been taken as has been announced by the prime minister.
The government will pay a subsidy of Rs2.5 billion in the month of July for providing this relief to the people.
