Islamabad: The Oil and Gas Regulatory Authority (OGRA) on Saturday eve issued a notification to reverse recent hike in petroleum products over direction of Pakistan Prime Minister Raja Pervez Ashraf.
According to the notification the prices of petroleum products would be reinstated to February 28 level, taking effect from Saturday midnight.
Earlier today during a meeting with Minister for Finance Saleem H Mandviwala in the PM’s House, Pakistan’s premier taking notice of the upward revision in the prices directed OGRA to cancel the notification with immediate effect.
Chairman OGRA Saeed Ahmad Khan issued a notification in that regards, according to which the petrol would be retailed at Rs103.70 per liter after reduction of Rs3.53, diesel after a decrease of Rs4.35 at 109.21 per liter, kerosene oil at Rs99.90 per liter after a cut of Rs3.79 and light diesel after a slash of Rs3.79 would be sold at its old price Rs94.98 per liter.
Ministry of Petroleum stated that petroleum levy was reduced to decrease the prices.
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