Federal Finance Minister Ishaq Dar on Friday stated the federal government has determined to cut 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 Rs72.80 to Rs71.30 and diesel costs from Rs81.40 to Rs79.90 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 Gasoline Regulatory Authority (OGRA) for a rise in costs of kerosene oil by Rs10.95 and Gentle Diesel Oil by Rs6.82 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 value will increase since April 2016 and has suffered appreciable lack of income.
Ishaq Dar stated the federal government will bear a burden of Rs2.4 billion for not rising the costs of petroleum merchandise in July.