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ISLAMABAD: Federal government on Tuesday announced to keep the prices of petroleum products at current level with effect from June 1, 2022.

In a statement, Finance Division says, “With a view to provide maximum relief to the consumers, the Prime Minister of Pakistan has directed that the current prices of petroleum products as notified on 27th May, 2022 shall remain unchanged, despite revenue losses due to rising petroleum prices globally”.

On May 27, federal government raised the prices of petrol and High Speed Diesel (HSD) by Rs 30 per litre to meet the condition of IMF. The government is giving subsidy on petrol Rs 17.02 per litre and Rs 56.70 per litre on HSD.

Increase in POL products’ prices: Pasha says: ‘Well, better late than never’

Some reports suggested that government may increase the price of petroleum products before resuming talks with IMF.

The government raised the subsidy on petrol from Rs 17.02 per litre to Rs 39.32 per litre or Rs 22.30 per litre and ex-refinery price has also increased from Rs 184.37 per litre to Rs 206.42 per litre or Rs 22.05 per litre. The amount of subsidy of HSD has been reduced to Rs 53.05 per litre. The subsidy on SKO is Rs 26.38 per litre and on LDO Rs 38.08 per litre.

Copyright Business Recorder, 2022

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