ISLAMABAD: Prime Minister Shehbaz Sharif has rejected the proposal to hike the price of petroleum products, sources told Geo News Friday, newly-elected premier seeks to provide relief to the masses.
The official announcement will be made shortly.
The current government’s decision to keep the prices unchanged will force it to give another hefty amount in subsidy from April 16 to 30.
On February 28, former prime minister Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of the budget for 2022-23.
But the Oil and Gas Regulatory Authority (OGRA) — a day earlier — had sent a proposal to the Finance Division to increase the price of petrol by Rs21.50 and diesel by Rs51.30 (based on existing/current petroleum levy and GST).
According to the proposal, the OGRA has suggested an increase of Rs83.50 per litre of petrol and Rs119.88 per litre of diesel (based on the federal government’s advised petroleum levy of Rs30 and 17% GST).
Following are the current rates:
| Product | New Prices w.e.f. 01-04-2022 | Increase / (-) Decrease |
| MS (Petrol) | 149.86 | 0 |
| High Speed Diesel (HSD) | 144.15 | 0 |
| Kerosene (SKO) | 125.56 | 0 |
| Light Diesel Oil | 118.31 | 0 |
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