Government has approved increase of petroleum products for the month of January. Increase of RS 4 to RS 6 is implemented from today. PM advisor on Finance Miftah Ismail said OGRA has presented proposal of increase between RS 4 to RS 13, but prime minster only approves RS 4 to 6. Miftah Ismail said the petrol price had been increased by Rs4.06 to Rs81.53 from Rs77.47 and that of kerosene by Rs6.74 to Rs64.32 from Rs57.58 per liter. OGRA had recommended Rs13.58 per liter rise in the kerosene price, he added.

The adviser said the price of High Speed Diesel (HSD) has been jacked up by Rs3.95 to Rs89.91 from Rs85.96 per liter, while OGRA had recommended an increase of Rs7.51. Mr Ismail said the Light Diesel price had been increased by Rs6.25 to Rs58.37 from Rs52.12 per liter. OGRA had proposed an increase of Rs12.59 in its price, he added.

“The prices of petroleum products in Pakistan are still lower than in other neighboring countries,” he claimed and said on Dec 25, the price of per liter petrol was 70 US cents, while it was 83 cents in Sri Lanka, $1.8 in Bangladesh, $1.4 in India and $1.48 in Turkey.

He also mentioned that prices of petroleum products have raised in international market but government was stuck to his decision not to shift the whole burden to general public. Government did not increase prices to benefit public and keep indicators positive.