ISLAMABAD: The interim government of Prime Minister Anwaarul Haq Kakar has decided to maintain the prices of motor spirit (Petrol) and high-speed diesel (HSD) at the current level during the first half of January 2024.
The Finance Division, in an announcement, said that the Government of Pakistan has decided to maintain the current prices of Petrol and High-Speed Diesel during the fortnight starting from 1st January, 2024, as recommended by Oil and Gas Regulatory Authority (OGRA).
After the government’s decision, the petrol will be available at Rs267.34 per litre and HSD at Rs276.21/litre across Pakistan.
Whereas, the prices of kerosene oil and light-diesel oil were reduced by Rs 2.19 and Rs1.11 per litre, respectively.
Last fortnight, the caretaker government reduced the prices of petrol and high-speed diesel (HSD) by Rs14 and Rs13.50 per litre, respectively.
According to a notification from the Ministry of Finance, the new prices of petrol and HSD were set at Rs267.34 and Rs276.21.
The new prices of petroleum products for the fortnight — from Dec 16 to Dec 31 — were recommended by the Oil and Gas Regulatory Authority (OGRA).
Meanwhile, the prices of kerosene oil and light-diesel oil were reduced by Rs10.14 and Rs11.29 per litre, respectively, to Rs191.02 and Rs164.64.
It is pertinent to mention here that the State Bank of Pakistan (SBP) forecasted in its annual report on the past fiscal year, that the inflation rate would ease to 20-22 per cent in the financial year 2023-24 (FY24) as the country heads into February 8 general elections.
