The Government of Pakistan, on Sunday, took action for the execution on the recommended rise in fuel prices from February 16 by Oil and Gas Regulatory Authority (OGRA).
According to the sources, from February 16, an inflation in the prices of petroleum products by Rs 5 is likely to be observed. OGRA has sent the documentation of suggestions to the Petroleum Division of the country.
Moreover, a levy of Rs 30 is imposed on the rate of petroleum products. It is pertinent to be stated here that the government has got the option of either reducing the levy or raising the fuel prices. The decision on prices of petroleum products will be taken by PM Imran Khan.
So far, the prices of petroleum products have increased five times in the last two and a half months. Since December 1 a rise of Rs 16.37 has been observed in petroleum prices while petrol price was increased by Rs 11.21 per liter. The price of high speed diesel has been increased by Rs 14.64 per liter whereas kerosene oil was increased by Rs 14.90 per liter and price of light diesel was increased by Rs 16.37 per liter.
