OGRA pro­poses Rs 7.56 re­duc­tion in petrol price

The Pak Banker - - NATIONAL -

Fol­low­ing 40-50 per­cent de­crease in oil prices on the in­ter­na­tional level, the govern­ment seems hes­i­tant in trans­fer­ring the ben­e­fits to the pub­lic. The Oil and Gas Reg­u­la­tory Au­thor­ity ( OGRA) on Fri­day for­warded a sum­mary to fi­nance min­istry rec­om­mend­ing a re­duc­tion of only 10 per­cent in the prices of pe­tro­leum prod­ucts. OGRA has stated in the sum­mary to de­crease petrol by Rs7.56, high speed diesel and high oc­tane by Rs10.15 whereas kerosene by Rs8.17 from Fe­bru­ary 1. In case the sum­mary is ap­proved by the Prime Min­is­ter, light diesel will un­dergo a price-cut of Rs7.36. On the other hand, a res­o­lu­tion propos­ing to fix petrol price as Rs40 per liter has been sub­mit­ted in the Pun­jab as­sem­bly.

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