Ishaq Dar disappoints motorists
ISLAMABAD: Finance Minister Senator Muhammad Ishaq Dar disappointed motorists by keeping unchanged oil prices on Thursday night.
Dar was expected to reduce domestic petroleum prices for the next fortnight as per OGRA’s recommendation. TV channels kept on broadcasting news of further reductions in oil prices for the next 15 days.
However, in a televised address on Thursday night, Dar dashed hopes of inflation-hit consumers eyeing more relief in the prices of petroleum products.
Dar said the government took the decision to maintain the fuel prices in view of international rates.
He pointed out that international crude oil and gas prices have surged slightly in the past few days.
Finance Minister also said that the government had already curtailed the diesel and petrol prices by Rs35 and Rs20 in the last 30 days.
He, nonetheless, increased the price of light diesel oil by Rs2.52, to Rs150.20 per liter from June 16. The prices will remain in effect till June 30.
Govt expected to reduce oil prices
The federal government is expected to further reduce petrol prices to give relief to motorists.
Media reports indicate up to 10 rupees per liter decrease in the retail prices of petroleum products from midnight today.
The new petroleum prices will be effective from June 16, 2023.
As the Russian discounted crude oil has reached refineries in Pakistan, the government is expected to give more relief to motorists from the 1st of July 2023. By this time, the oil refined from the Russian crude oil would have reached the petrol pumps.
Earlier, the government trimmed the petroleum prices starting from June 1, 2023. The government reduced the rate of petrol by Rs 8 per liter while Rs 5 relief was notified in the price of diesel (HSD and LDO).
Effective June 1, 2023, the price of petrol fell to Rs262 per liter from Rs270 per liter, registering a reduction of Rs8 per liter.
