Govt keeps POL prices unchanged

May 31, 2022 (MLN): Despite the increasing price of oil in the global market, the federal government on Tuesday decided to keep the petrol prices unchanged, aiming not to burden the consumers with a further hike in the prices, said a notice issued by Finance Ministry.

Accordingly, the price of petrol and High-Speed Diesel (HSD) will stand at Rs179.86  and Rs 74.15 per litre, while Kerosine oil and Light Diesel (LDO) will cost around Rs155.56 and Rs148.31 per litre respectively.

To recall, the federal government had increased the petroleum product prices by Rs30 per litre on May 27, 2022, to meet IMF demand.

Earlier, the Federal Minister for Finance and Revenue Miftah Ismail said that the IMF team emphasized the importance of rolling back fuel and power subsidies, which were given by the previous administration in contravention of its own agreement with the Fund. The government is committed to reviving the IMF programme and putting Pakistan back on a sustainable growth path.

Following the announcement, the amount of PDC and subsidy on petrol clocked in at Rs39.32 per litre, diesel Rs53.05 per litre, kerosene Rs26.30 per litre and LDO Rs38.08 per litre.

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