Islamabad: The Oil and Gas Regulatory Authority (OGRA) has recommended additional reductions in oil prices (proposed to come into effect starting June 1) along with submitting a summary to the petroleum division on the same, according to a news source.
As per the publication, OGRA recommends an additional cut of PKR 7.6 per litre in petrol price, while the per-litre cut proposed for kerosene oil is PKR 11.88. Contrary to the proposed reduction in price of petrol on kerosene oil, the authority recommended an increase in price of diesel by 5-paisa per litre; while it recommended a reduction of PKR 9.37 per litre for light diesel.
The final decision with respect to the recommended drop in price of oil products rests with the Ministry of Finance, which has to consult with Prime Minister (PM) Imran Khan for approval. Following a massive drop in price of petroleum products in the international market, the government had previously reduced the price of petrol by PKR 27.15 in May.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
