Kerosene oil price cut, others stay unchanged

ISLAMABAD: Prime Minister Nawaz Sharif on Saturday rejected a summary seeking up to Rs2.43/litre increase in petroleum products, and ordered to keep the prices at the current level during the month of June, except that of Kerosene oil which has been reduced slightly.Finance Minister Senator Ishaq Dar called on the prime minister and briefed him on cumulative reduction in petroleum prices during the last three months owing to stabilisation of rupee and increase in the foreign exchange reserves of the country. “The government will provide subsidy amounting Rs.1.78 billion to offset the difference in prices of petroleum products,” said a statement issued by the prime minister’s office.According to the notification, per litre price of petrol will stay at Rs 107.97, high speed diesel (HSD) Rs 109.34, high octane blended component (HOBC) Rs 134.63. However, the price of Kerosene oil has been set at Rs 97.40/litre after a cut of 67 paisa/litre cut. The already imposed petroleum levy and sales tax has been reduced by Rs 1.12/litre on petrol, Rs 2.17/litre on the sale of HOBC, Rs 1.55/litre on HSD and 97paisa on the sale of LDO.

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