|Hefty cut in petroleum prices|
16 June 2012
ISLAMABAD - AHMAD AHMADANI - PPP-led government, in order to provide relief to the masses, has decreased the prices of Petroleum Oil and Lubricant (POL) products upto Rs 11.75 per litre while CNG was reduced upto Rs 4.82 per kg for the 2nd half of June to be effective downwards from June 16th.
Petroleum Minister Dr Asim Hussain, flanked by Minister for Information Qamar Zaman Kaira, announced this reduction during a news conference held here on Friday. Asim said with imported LNG, it would be very difficult for CNG business to maintain existence. Further, CNG stations would be closed down gradually, he said.
Kaira, in a heart-winning move, asked the provinces and concerned authorities to reduce transport and goods fares in a bid to provide relief to the common/ordinary man.
According to OGRA notification, due to 12 dollars reduction in the price of crude oil in international oil market, the government has decreased the price of petrol by Rs 10.46 per litre so the new price of petrol would now stand at Rs 89.91 per liter. Diesel after a slash of Rs 6.8 per litre would now be sold at Rs 99.69 per liter while Light Diesel Oil (LDO) would be available at Rs 86.57 per litre with a reduction of Rs 5.2 per litre. Similarly, Kerosene oil has also been made cheaper by Rs 5.26 per litre so it would now be retailed at Rs 88.79 per litre and High Octane Blending Content (HOBC) would be available at Rs 113.32 per litre after a cut worth Rs 11.75 per litre.
Furthermore, in accordance with OGRA notification for CNG prices‚ the price for Region I (Potohar‚ Khyber Pakhtunkhwa and Balochistan) has been reduced by Rs 4.82 per kilogram and for Region II (Central Punjab and Sindh) Rs 4.37 per kilogram.
It is worth mentioning that though the government has reduced POL and CNG prices up to Rs 11.75 per litre this time yet relief in accordance with petrol-CNG price difference by June 16th has not been provided.
Similarly, as on June 1st, reduction in the price of CNG by Rs 2.85 per kg was not given but reduction in the price of petrol for the 1st half of June was done so CNG consumers could not get expected relief worth Rs 7.65 per kg cut in the price of the commodity this time for the 2nd half of June.
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