The government has decided to keep the prices of petroleum products unchanged for the month of June, Finance Minister Ishaq Dar announced on Tuesday.
“In line with Prime Minister Nawaz Sharif’s policy of providing maximum relief to the people, it has been decided that the prices of petroleum products will not be increased on June 1, 2016,” Dar said.
He further said “the government will absorb the full impact of maintaining the prices at the current level”.
The absorption of Rs 6.69 per litre in high speed diesel by the federal government would also help the provincial governments to ensure that there is no unnecessary price hike during Ramzan on this account, the finance minister said.
Petrol and high speed diesel are two major products which generate most of the revenue in the oil sector. The average sale of HSD across the country stands at 600,000 tons per month, petrol at 400,000 tons, kerosene at less than 10,000 tons and HOBC lower than 6,000 tons.