Two petroleum products prices reduced, rest unchanged
ISLAMABAD): While keeping the prices of rest of the petroleum products unchanged, the government Friday reduced that of kerosene and light diesel oil (LDO), by Rs1.24/litre and by Rs1.02/litre respectively for February, Media reported.
A notification has been issued for the same takes effect from February 1, 2014 (12:00 AM).
Ministry of Finance, in a statement issued, said that the step had been taken on the directives of Prime Minister, Mian Nawaz Sharif, who ordered the concerned authorities to pass on the reduction in the prices of kerosene and light diesel oils to the masses along with maintaining current prices of petrol, HOBC, and HSD.
Finance Minister, Ishaq Dar, called on the prime minister on Friday and discussed with him the recommendations made by Oil and Gas Regulatory Authority (OGRA).
It must be noted that OGRA had suggested that the per litre prices of petrol, HOBC, and high speed diesel (HSD) be increased by Rs0.71, Rs4.33, and Rs1.06 respectively, whereas the prices of kerosene oil and light diesel oil be reduced by Rs1.24 and Rs1.02 respectively.
Ishaq Dar said that in order to maintain the current prices of petrol, HOBC and HSD the government would have to bear a subsidy of approximately Rs1 billion.
