May put respon­sibili­ty of price revisi­on on incomi­ng govern­mentISLAMABAD: The caretaker government is likely to leave petroleum product prices unchanged and pass the responsibility of rate revision on to incoming government of Pakistan Tehreek-e-Insaf (PTI) that won the recently held general elections. Sources in the Oil and Gas Regulatory Authority (Ogra) told The Express Tribune that two proposals were being considered for revision in petroleum product prices for August. When approached, Energy Minister Ali Zafar acknowledged that there was a proposal to keep petroleum prices unchanged as about a week was left before the installation of the new government. According to a notification issued by the Ministry of Finance, the petrol price was reduced by Rs4.26 to Rs95.24 per litre, high-speed diesel by Rs6.37 to Rs112.94, kerosene oil by Rs3.74 to Rs83.96 and light diesel oil by Rs5.54 to Rs75.37. As a result of the reduction in petroleum prices, the government sustained an estimated revenue loss of Rs10 billion.

Source: The Express Tribune July 30, 2018 17:26 UTC