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Caretaker Government drops petrol bomb!

ISLAMABAD: The caretaker government has dropped petrol bomb on the public that will be paying Rs. 99.50 for a liter of petrol, Rs.119.31 for diesel and 87.70 for diesel from 1st of July, 2018.

According to details on the recommendation of Oil and Gas Regulatory Authority (OGRA), finance division has approved new prices of petroleum products with effect from Sunday, July 01.

OGRA had proposed an increase in the price of Petrol by Rs. 7.54 per liter, HSD by Rs. 14.00 per liter, SKO by Rs 3.36 per liter and LDO by Rs. 5.92 per liter. Due to a tight fiscal position, the government decided to pass on the full impact of the increase to the consumers, it added.

The increase in the petroleum prices is caused due to increase in petroleum prices in international market and depreciation of Pak Rupee against US Dollar. The financial impact of the above dispensation will be implemented through revision of Sales Tax Rates and Petroleum Development Levy.

The new price of Motor Spirit (MS) 92 RON Petrol will be Rs 99.5 per liter, while that of High-Speed Diesel will be Rs 119.31. Similarly, per liter price of Kerosene Oil and Light Diesel Oil will be Rs 87.7 and Rs 80.9.

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.