Finance Minister Ishaq Dar on Friday stated the federal government has determined to scale back petrol and diesel costs by Rs1.5 per litre, whereas the costs of kerosene and lightweight diesel oil will stay the identical.
Speaking to media individuals within the federal capital, he stated petrol costs can be decreased from Rs72.eighty to Rs71.30 and diesel costs from Rs81.forty to Rs79.ninety per litre.
The brand new costs can be efficient from July 1 to July 31, 2017.
The minister stated that following the instructions given by the prime minister, the suggestions of Oil and Fuel Regulatory Authority (OGRA) for a rise in costs of kerosene oil by Rs10.ninety five and Mild Diesel Oil by Rs6.eighty two weren’t permitted.
The costs of kerosene and lightweight diesel oil have been stored unchanged at Rs44 per litre, he informed.
He stated the federal government has absorbed a substantial influence of worth will increase since April 2016 and has suffered appreciable lack of income.
Ishaq Dar stated the federal government will bear a burden of Rs2.four billion for not growing the costs of petroleum merchandise in July.
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