ISLAMABAD :. After meeting with prime minister , Shahbaz Sharif, finance minister , Miftah Ismail , deprived the masses of relief in petroleum product prices .
Initially, the finance ministry has worked out cut of Rs 11 per liter in petrol prices and its announcement was due before mid night on July , 31. But before that Mr Miftah Ismail rushed to prime minister house to advice of the premier on the relief in petroleum product prices .
Apparently , on the advice of the prime minister , Mr Miftah decided to reduce relief on petrol prices from Rs 11 to Rs 3.05 per litre. The rest of the relief had gone in taxes through adjustment of Petroleum levy.
However, the prices of other products were revised upward as per original working of the ministry of Finance .
It’s unfortunate the governmemt passes on increase in petroleum products to the end consumers when global market goes up, but denies the relief to already inflation hit public when its prices by jacking up levy imposed on petroleum products .
According to a notification issued at 11.30 PM , the new petrol price after reduction of Rs 3.05 will be 227.19,
High speed diesel (HSD) price was jacked by Rs 8.95 . Its new price is fixed at Rs 244.95. Light speed diesel LSD price has been reduced by only 12 paisa a liter .
Kerosene oil price has been increased by Rs 4.62. its new price is Rs 201.07 per liter.
The new rates of petroleum products will remain effective till August 15, 2022.
