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Govt decides against increasing petrol price

— AFP/File

ISLAMABAD: The federal government Saturday decided to keep the prices of petroleum products unchanged for the first half of May, a notification in this regard said.

The notification from the Finance Divison said Prime Minister Shehbaz Sharif rejected the Oil and Gas Regulatory Authority’s (OGRA) proposal to hike the price of petroleum products.

The decision to not hike the price of petroleum was taken to avoid burdening the consumers, the notification read.

Product Old Prices w.e.f. 16-04-2022 New Prices w.e.f. 1-05-2022  Increase / (-) Decrease 
MS (Petrol)  149.86 149.86 0
High-Speed Diesel (HSD)  144.15  144.15 0
Kerosene (SKO)  125.56 125.56 0
Light Diesel Oil  118.31  118.31 0

In a statement on Thursday, Information Minister Marriyum Aurangzeb had said the price of petroleum products would remain unchanged for the first half of the next month.

Aurangzeb said the “incompetence and serious mistakes” of the last government were the reasons for people’s suffering.

“Former prime minister Imran Khan’s government had accepted harsh conditions set by the International Monitory Fund related to increasing prices of the petroleum products to secure a loan,” Aurangzeb said.

The information minister said the government is making “every possible effort” not to put any further burden on people, who are already facing the brunt of high inflation.

Federal Minister for Finance and Revenue Miftah Ismail had also earlier this week announced that the price of petroleum products would not be increased “immediately”.

Speaking during Geo News programme “Capital Talk”, Ismail urged people to stop filling their petrol tanks out of panic as prices will not be increased immediately.

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