ISLAMABAD: The government has decided to provide significant relief to already burdened masses and reduced the price of petrol by Rs12.63 per liter for the first fifteen days of October, 2022.
Newly-appointed Finance Minister Ishaq Dar while speaking at a press conference announced a substantial cut in the prices of all petroleum products, which will be effective with the start of October.
The Finance Ministry, in a statement, said that in the wake of reduction of petroleum products prices in the international market and with a view to provide relief to the consumers, the government has decided to decrease the prices of petroleum products.
According to the finance ministry’s notification, petrol price has witnessed Rs 12.63/liter cut while high speed diesel (HSD) has reduced by Rs 12.13/liter. Similarly, the price of kerosene oil has decreased by 10.19/liter and the price of light diesel oil (LDO) reduced by Rs 10.78/liter.
As per new oil prices, petrol will now be available at Rs 224.80/liter, HSD at Rs 235.30/liter, Kerosene oil at Rs 191.83/liter and LDO at Rs 186.50/liter during the first fortnight of October.
Meanwhile, the Oil and Gas Regulatory Authority (OGRA) has slashed the price of liquefied petroleum gas (LPG) by Rs 10 to Rs210 per kg for the month of October 2022 and issued a notification to this effect.
According to OGRA notification, the price of domestic cylinder has been reduced, which will now be sold for Rs2,374 while commercial cylinder will cost Rs9,135.
LPG is used mostly for cooking, lightening purposes in remote and hilly areas where piped natural gas is not available.
LPG Distributors Association of Pakistan Chairman Irfan Khokhar said that there would be severe gas shortages in the upcoming winter season and the need is to import LPG to bridge the gap. He said that local gas is being monopolized by a few people due to which black marketing is rampant in the country. He urged the government to devise a policy to make available cheap gas to minimize the shortfall. He said there is a monopoly of few companies on the local production of LPG and the need is to end their monopoly. He said approximately Rs 8 billion was earned by the gas mafia in the month of September 2022. He demanded that the government devise an LPG policy to end the monopoly of the gas mafia on local LPG production. He also advocated that the LPG companies which have monopoly and control on local LPG production should be made bound to import 50 percent of LPG to run their business and to ensure the availability of LPG at cheaper rate during the upcoming winter season. Prime Minister should investigate the overpricing being done in LPG price and recover Rs 8 billion which was looted from the innocent LPG consumers in September, Irfan Khokhar demanded.
He added that the government should take prompt decisions to end the black marketing of LPG in the country.
