*ISLAMABAD – Oil and Gas Regulatory Authority (OGRA) has forwarded aproposal to reduce prices of all the major POL products in the country.*
The recommendation was put forward to pass on the benefit of lower pricesto Pakistani consumers with relative stability in exchange rate.
A summary for petroleum price revision for the month of September has beensent to the Ministry of Finance and after the Prime Minister’s approval,the adjusted price will be announced for the public, a senior governmentofficial said.
In accordance with the existing rate of general sales tax and petroleumlevy, Ogra has suggested the new ex-depot high-speed diesel (HSD) price atabout Rs106 per litre, down by about Rs6.50 per litre.
Similarly, the ex-depot petrol price has been proposed at about Rs93 perlitre, down by Rs2.23 while kerosene price is likely to recede by about70-paisa per unit to Rs83.25 per litre.
Whereas, the ex-depot price of light diesel oil has been estimated toincrease by about 70-paisa per litre to Rs76.05.
On July 7, the caretaker government decided to reduce petroleum prices inorder to provide relief to the general public.