The prices of petroleum products are expected to go up by as much as Rs10 per litre from the next month.
Reports on Saturday suggested that the price of petrol was likely to go up by by Rs6.30 per litre, while the price of Kerosene oil may be increased by Rs10 per litre.
Meanwhile, the price of Light Diesel is expected to increase by Rs4 per litre and High Speed Diesel by Rs8.50 per litre.
The new prices will be implemented after the approval of the authorities concerned. Last month, the federal government had reduced the petroleum prices up to Rs6 per liter.
Earlier on September 17, the Economic Coordination Committee (ECC) approved an increase in gas tariff. Finance Minister Asad Umar, who was chairing the committee’s meeting, also approved the addition of a new tariff slab for sale of gas. In view of Umar’s directives to not burden masses with the price hike, a larger increase in tariffs was placed on higher tariff slabs. Furthermore, the import tax on Liquefied Petroleum Gas (LPG) was decreased to ten per cent. Importing the commodity is expected to decrease its price.
Published in Daily Times, September 23rd 2018.
