ISLAMABAD – The Pakistan Tehreek-e-Insaf-led federal government increasedthe per litre price of Petrol to Rs108 approving increment of Rs9 in perlitre price.
The decision came on Friday, days after the government deferred the hikeproposed by the Oil and Gas Regulatory Authority (OGRA); the authority hadproposed enhancing the price by Rs14.37 per litre.
Adviser on Finance, Abdul Hafeez Sheikh chaired a meeting of the EconomicCoordination Committee and gave a go-ahead to the increase in prices.
Besides petrol, the price of Diesel was approved to go up by Rs 4.89 perlitre.
The approval would lead to further inflation, especially during the monthof Ramazan in which prices of food commodities already skyrocket.
Speaking at a ceremony earlier in the day, Hafeez Sheikh clarified thatcontrolling petroleum products’ prices was not in the hands of theincumbent government.