ISLAMABAD
The federal government is expected to increase the prices of petroleum products by up to Rs9 across the country from February 1.
According to sources, there is a possibility of increase in the prices of petroleum products. The decision regarding prices will be taken by Prime Minister Imran Khan.
The authority has proposed a hike in the price of petrol by Rs5.50 and High Speed Diesel (HSD) by Rs 9.
Meanwhile, the opposition leaders, including Shehbaz Sharif of PML-N and PPP’s Bilawal Bhutto in their separate statements blasted the government for further proposals to increase petrol prices. They called it utterly shameful and said it would push people to the brink of starvation.
The federal government on January 15 announced an increase in the prices of petroleum products. Petrol price with Rs3.01 increase was raised to Rs147.83 per litre, whereas high speed diesel price, with an increase of Rs3, reached Rs144.62 per litre. In addition, kerosene oil price was increased by Rs3 to Rs116.48 per litre, while light diesel oil became Rs3.33 dearer to cost Rs114.54 per litre.
According to a Finance Division statement, petroleum products were showing fourth straight weekly gain and witnessed an increase of 6.2 percent just last week in the international market. “Against the recommendation of Ogra for an increase of Rs5.52 per litre in petrol and Rs6.19 per litre in the HSD prices, the prime minister has directed to absorb the international prices through further cut in sales tax from last fortnight,” the Finance Ministry stated.
