Proposal to make petroleum products more expensive on Eid
ISLAMABAD: The government should make preparations to increase the price of petroleum products on Eid.
According to ARY News, the government is preparing to increase the price of petroleum products on Eid. It has been proposed to increase the price of petrol by Rs 7 per liter to Rs 107.
Sources said that high speed diesel has been proposed to be increased by Rs 9.50 to Rs 111 per liter, while kerosene is being prepared to be increased by Rs 6 to Rs 60 per liter.
Similarly, it has been recommended to increase light diesel by Rs 6 to Rs 56 per liter.
It may be recalled that a meeting of the Economic Co-ordination Committee chaired by Finance Advisor Hafeez Sheikh was held yesterday in which the modalities of fixing the prices of petroleum products were reviewed.
The meeting approved the proposal to change the prices of petroleum products after 15 days and now with the approval of the Cabinet, the prices will be fixed on a 15-day basis from August 1.
Under the new procedure, it will be possible to prepare the prices 3 months in advance. The meeting also considered the prices of petroleum products for the next month.
According to a press release, the ECC has also approved the import of 300,000 tonnes of sugar. Ample reserves will be available from the import of sugar till the beginning of next season.