ECC Approves Rs9 Per Litre Increase In Petrol Prices
The Economic Coordination Committee (ECC) on Friday approved an increase of Rs9 per litre on petrol price.
Advisor to the Prime Minister Imran Khan on Finance, Revenue and Economic Affairs headed the ECC meeting in which the approval was granted. The ECC approved to set per litre price to Rs108, up by Rs 9. An increase of Rs4.89 per litre for Diesel was also approved.
On April 29, Oil and Gas Regulatory Authority (OGRA) proposed Rs14.37 per litre hike in petrol prices.
The summary from OGRA for the petrol price increase for May reached the Ministry of Finance on the same day.
OGRA proposed that petrol prices be increased by Rs14.37 to Rs113.26 per litre. Among other petroleum products, the regulatory authority has worked the price of high-speed diesel (HSD) at about Rs122.32, up Rs4.89 per litre.
Likewise, the price of light diesel was proposed at about Rs86.94, up by Rs6.40. Kerosene was proposed to be sold at Rs96.77, up by Rs7.46.
In April, the Pakistan Tehreek-e-Insaf (PTI) had increased prices of petroleum products by 6.45 per cent. The then finance minister Asad Umar said that OGRA proposed an increase that was double of what the PTI accepted and implemented.