Finance Minister announces new PoL prices

Finance Minister announces new PoL prices

Finance Minister, Senator Ishaq Dar here on Sunday,with concurrence of the Prime Minister, announced new prices of five PoL products i.e Petrol, HSD, Kerosene Oil, HOBC and LDO which would be effective from 1^st of June 2015.

The Minister said that OGRA had proposed increase of Rs. 6.19  per litre in MS Petrol but we have only increased the price by Rs. 3.50. So the new price per litre of Petrol will be Rs. 77.79.  For HSD against Ogra’s suggested increase of Rs. 7.91 per litre, we have only increased the price by Rs. 3.51 and new price per litre would be Rs 87.12. For Kerosene oil the government has enhanced the per litre price by Rs. 3.50 against Ogra’s proposed increase of Rs. 6.53 and the new price would be Rs. 64.94 per litre.  Ogra suggested Rs. 13.25 per litre increase for HOBC, but we increased the price by Rs. 3.50, so new price is Rs. 83.81 per litre. For LDO, the Minister said against Ogra’s suggested increase of Rs. 7.62 per litre, the government has increased price only by Rs. 3.57 per litre. So the new price would be Rs. 61.51 per litre.

The Minister on this occasion added that though Ogra had proposed increase per litre in the range of Rs. 6.19 to Rs. 13.25 in the above said five products but for benefit of the consumers, suggested increase in prices had been considerably lowered. After these changes in the prices, Government, the Finance Minister said would have to shoulder the burden of around Rs. 6 billion worth of subsidy for the month of June.