Government has decided an increase in per litre price of petrol by a whopping Rs 5.40 which will have a multiplier effect, contributing to inflation and making lives hard for commoners before Eidul Azha.
As per Prime Minister Imran Khan’s Special Assistant Dr. Shahbaz Gill tweet, the federal government approved a fortnightly increase in petroleum product prices on Thursday.
The government has approved a petrol price increase of Rs 5.40 per litre, a high-speed diesel (HSD) price increase of Rs 2.54 per litre, and a light diesel price increase of Rs 1.27 per litre.
It approved an increase in the kerosene oil pricing of Rs 1.39 per litre. The new pricing will go into effect on July 16th.
The government already increased the price of petrol by Rs 2 per litre and high speed diesel (HSD) price by Rs 1.44 per litre for the first fortnight of July.
“Keeping public interest in mind, Prime Minister Imran Khan went against OGRA’s suggestion and allowed a Rs 5.40 increase in petrol price,” the special assistant stated.
Gill went on to say that the government would now bear the majority of the burden because it had rejected OGRA’s suggestions in an effort to provide “maximum relief to the people.”
The Oil and Gas Regulatory Authority (OGRA) has already issued a report requesting an increase in fuel prices. The price of petrol should be increased by Rs 11.50 per litre, according to the regulator.
The authorities proposed raising the price of high-speed diesel by Rs 2.40 per litre, kerosene oil by Rs 1.50, and light diesel by Rs 1.40.