Govt increases POL prices for next fortnight

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ISLAMABAD: The government has revised the prices of petroleum products for the next fortnight.

Addressing a news conference in Islamabad on Sunday, Finance Minister Ishaq Dar said that the prices of light diesel oil and kerosene will remain intact from tomorrow till 31st of this month.

He said the price of petrol will be increased by Rs1.77 per liter and high speed diesel oil by Rs2.

He said the government treasury will bear the burden of Rs 2.75 billion as subsidy for this period on petroleum products.

The finance minister said that OGRA had proposed Rs14.31 increase in kerosene oil, Rs10.11 paisa increase in light diesel oil, Rs3.94 increase in high speed diesel oil and Rs1.77 increase in petrol.

Dar said that the Prime Minister Nawaz Sharif has directed to provide maximum relief to the general public.  He said the prices of petrol and high speed diesel oil have been increased due to 43 percent increase in prices of crude oil and petroleum products at the international market.

He said the government kept the prices of the petroleum products stable since April last year. He said the increase at the international level has been absorbed by the government