KARACHI: Petrol and diesel prices were increased by RS 1 per litre each for April on Friday.
Addressing a news conference in Dubai, Finance Minister Muhammad Ishaq Dar said the new prices would be effective from midnight on Friday.
The Oil and Gas Regulatory Authority (OGRA) recommended a two rupee and twenty-eight paisa per litre increase in the price of petrol and a two rupee and fifty paisa per litre increase in the price diesel, according to the minister.
“Minimum possible burden is being passed on to consumers on the instructions of the Prime Minister,” Dar said.
“The government will bear a RS 3 billion financial burden for April, for not transferring the full impact of the prices to consumers,” he added.
Kerosene and light diesel oil will remain unchanged for the month of April, the minister announced.
Due to the partial transfer of the price impact to consumers, loss on the account in the past eleven months has inflated to a hundred billion rupees.
