The federal government on Friday raised the prices of petroleum products.
Finance Minister Ishaq Dar during a press conference in Dubai announced that the price of petrol and diesel would be raised by Rs 1 per litre.
Dar added the prices of kerosene oil and light diesel oil would remain unchanged.
Finance Minister said that the government would absorb an additional burden of Rs 3 billion for the month of April by not transferring the full impact of the prices of petrol and diesel to consumers.
He maintained that the government was trying to increase petroleum prices by minimum possible amount.
Earlier, the Oil and Gas Regulatory Authority (Ogra) had sent its summary to the Finance Ministry for approval, seeking increase of Rs 2.28 per litre and Rs 2.04 per litre in prices of petrol and diesel respectively. A Rs 13.76 per litre hike in the price of kerosene oil and Rs7.75 per litre increase in light diesel was also recommended.
