Govt issue notification regarding prices of petroleum products

Web Desk – May 16, 2022

ISLAMABAD: The federal government has issued a notification regarding the petroleum products’ prices after the finance minister announced to retain the rates.

The notification issued by the finance ministry read that the petrol price will be retained at Rs149.86 per litre, Rs144.15 for high-speed diesel (HSD), Rs125.56 for kerosene oil and Rs118.31 for light diesel.

The Pakistan Muslim League-Nawaz-led federal government has decided against hiking fuel prices.

The announcement was made by Federal Minister for Finance and Revenue Miftah Ismail while addressing a press conference in Islamabad.

Miftah Ismail said the government is not going to increase fuel prices and added that he is going to hold talks with the International Monetary Fund (IMF) for the revival of the loan package for Pakistan.

“We are not going to increase fuel prices,” Miftah said and advised the masses not to wait in long lines at the petrol pumps in this hot weather.

Taking on the former finance minister Shaukat Tarin, he said, the latter agreed with the IMF to end subsidy on the fuel prices phase-wise.

Prime Minister Shehbaz Sharif has decided to call a meeting of coalition parties in the federal government to decide on tough measures needed to bring the economy out of the crisis.

According to sources privy to the matter, the meeting of the coalition parties is likely to be held on Monday or Tuesday where participants will be taken on board with regard to decisions made by PML-N leadership in London.

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