Islamabad: Oil and Gas Regulatory Authority (OGRA) raised the prices of petroleum products by 9-13 percent on late Thursday night. The new prices will be effective immediately.
The OGRA spokesperson said that new prices of patrol will be Rs 83.85 with an increase of Rs 6.98. Kerosene oil has been raised by Rs 9.65 and new prices of the oil will be Rs 84.10 while High Speed Diesel has been raised by Rs 10.67 and new prices of HSD will be Rs 92.89. New prices of HOBC will be Rs 98.12 with an increase of Rs 7.16.
The spokesman Jawad Naseem has said the decision has been taken after an hours-long meeting. He said notification in this regard has been issued.
He said despite increase in petroleum products, Pakistan government have to bear the loss of Rs 10 billion in the form of subsidy, while the government have given subsidy of Rs 35 billion in last five months.
Muttahida Qaumi Movement (MQM) has showed grave concern over the hike in petroleum products and called an emergency meeting of its Coordination Committee in London and Karachi.
Sources said that MQM would soon announce its strategy in this regard if hike in petroleum products not withdrawn with immediate effect.
Governor Sindh Dr Ishratul Khan and Deputy Convener MQM Dr Farooq Sattar called President and Prime Minister of Pakistan and Federal Finance Minister and asked them to take back the of hike in petroleum products.
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