POL prices remain unchanged

ISLAMABAD: The government on Tuesday decided to keep the prices of petrol and diesel unchanged till the end of November 2022, Finance Minister Ishaq Dar announced.

“The government has decided, after permission from Prime Minister Shehbaz Sharif, that there will be no increase in prices of any petroleum products. The prices of all the items, including petrol, diesel, light diesel oil and kerosene will remain unchanged from Nov 16 to Nov 30,” Dar said in a short-televised address.

The prices of petrol will remain at Rs224.80 per litre, Rs235.30 for HSD, Rs186.50 for light diesel oil (LDO) and Rs191.83 for kerosene. It may be noted that on October 30, too, the government had kept the POL prices unchanged.

Dar said the State Bank of Pakistan and National Bank of Pakistan had submitted applications to the Supreme Court of Pakistan, requesting it to withdraw their appeals against the Federal Shariat Court (FSC).

The FSC had earlier directed a complete transformation of the banking system into Shariah-compliant banking by December 2027. In early 2022, the Shariat Court ruled that the federal and provincial governments must amend relevant laws and issued directives that the country’s banking system should be free of interest by December 2027. “Both of the applications have been submitted to the Supreme Court of Pakistan,” he said.