ISLAMABAD: The government on Saturday reduced prices of petrol by Rs1.80 per liter which would be now sold at Rs69.50 per liter from August 6, Finance Minister Ishaq Dar said.
The prices of Diesel have also been reduce from Rs79.90 perliter to Rs77.90 per liter, providing relief of Rs2.5 per liter to the people.
The prices of kerosene oil and Light Diesel Oil have been kept unchanged and these products would continue to be sold at the oldrates.
Dar informed the media persons that the Oil and Gas Regulatory Authority (OGRA) had recommended increase of Rs10.01 per liter onLight Diesel Oil and Rs13 per liter on Kerosene oil.
The authority had also recommended decrease of Rs3.87 per liter in petrol prices and Rs5.07 per liter percent in the prices of diesel.
Dar said that the government reduced the prices of petrol and diesel only by half of the proposed reduction to lessen the burdenit had to bear by not reducing prices of Kerosene and Light diesel Oil.
He said that as per schedule the change in price of oil products was to be announced on July 31, however due to constitutional vacuum, it could not be done.
He said that it was good decision by the Secretary to maintain status quo in prices and at the same time making adjustments in rates to pass on the benefit to the national exchequer.
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