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‘Bitter’ decision to hike petroleum products’ price had to be taken: Interim info minister | Business

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ISLAMABAD: A rise within the costs of petroleum merchandise was inevitable, Pakistan’s interim data minister mentioned Sunday, in keeping with Geo Information.

Ali Zafar, the caretaker data minister, defined that the bitter choice to approve a hike within the petroleum costs needed to be taken.

On Saturday, the caretaker authorities via a notification authorised a big upward revision in petroleum costs, with the brand new charges coming into impact from July 1 (Sunday).

After respective price hikes of Rs7.54, Rs14.00, Rs3.36, Rs.5.92, and Rs6.55 in petrol, diesel, kerosene oil, gentle diesel, and high-speed diesel, their new per-litre costs have been Rs99.50, Rs119.31, Rs87.70, Rs80.91, and Rs105.31.

Earlier, the Oil and Fuel Regulatory Authority (OGRA) had beneficial a rise within the costs of petrol, diesel, and kerosene oil by Rs5.40, Rs6.20, and Rs12, respectively, for July 2018.

As per the notification, the caretaker authorities has cited the worsening financial situation as the rationale for the value hike.

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