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Prices of petroleum products are likely to rise but subsidies will be phased out or at once? OGRA suggested

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Prices of petroleum products are likely to rise but subsidies will be phased out or at once? OGRA suggested

Prices of petroleum products are likely to rise but subsidies will be phased out or …

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has informed the government about the increasing subsidy on petroleum products and advised the government to phase out subsidy.

According to Express News, the Oil and Gas Regulatory Authority, in a summary sent to the government, has suggested an increase in prices, advising the abolition of subsidies for petroleum products. A decision on OGRA’s proposal to increase prices is expected today.

Possibly subsidies on petroleum products could be phased out. At present, the government gives a subsidy of Rs 29-60 per liter on petrol and from May 16, the subsidy per liter of petrol will increase to Rs 45.14 per liter. As a result, petrol can cost Rs 195 per liter.

Thus, the subsidy on diesel is Rs 73.4 per liter and from May 16, the subsidy on diesel will reach Rs 85.85 per liter. With the abolition of subsidy, the price of diesel will be Rs 230 per liter. From May 16, the subsidy on kerosene will be Rs 50.44 per liter and if the subsidy is abolished, the price of kerosene will be Rs 176.

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Business – Regional – Islamabad –

Prices of petroleum products are likely to rise but subsidies will be phased out or at once? OGRA suggested

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