OGRA’s summary for the increase in petrol price for over Rs.14 was sent to ECC by the PM for consideration.
Today, ECC’s meeting headed by the Finance Advisor, Mr. Hafeez Sheikh approved the increment in petrol price.
New price for petrol will be Rs.108.42/ltr
Furthermore, the increment of Rs.4.89/ltr for diesel also got approved.
As per the sources, it is reported that the government will bear a deficit of Rs.5 billion against the said price fluctuation.
ECC’s approval has endorsed our anticipated acceptance of the summary with slight abatement.
The impact of this price rise will definitely be brutal for a layman, as prices of general commodities already go up to welcome the Holy Month of Ramadan.
