KARACHI: The government of Pakistan on Tuesday decided to keep the petroleum prices unchanged for the next fortnight despite revenue losses due to rising petroleum prices globally.
The prices of petroleum products from June 01, 2022 shall be: Petrol at Rs179.86 per; High Speed Diesel at Rs174.15 per liter; kerosene oil at Rs155.56 per liter; and light diesel oil at Rs148.31 per liter.
Earlier, the government on May 26, 2022 announced a massive increase in prices of all petroleum products by Rs30/- per liter in order to satisfy International Monetary Fund (IMF) for release of $1 billion tranche.
Finance Minister Miftah Ismail at a press conference announced to increase the prices of petroleum products admitting that there was no way out without removal of subsidy on petroleum products.
However, the finance ministry in a statement issued on May 31, 2022 stated that the government had decided to keep the prices of petroleum products unchanged with an aim to provide relief to the consumers, despite revenue losses due to rising petroleum prices globally.
“With a view to provide maximum relief to the consumers, the Prime Minister of Pakistan has directed that the current prices of petroleum products as notified on 27th May, 2022 shall remain unchanged, despite revenue losses due to rising petroleum prices globally,” Finance ministry said in a statement issued here.