ISLAMABAD – In yet another anti-people move, the PPP-led coalition government, owing to increase in the business cost of petrol and compressed natural gas (CNG), is all set to increase the prices of petroleum oil and lubricant (POL) products and CNG for the second half of July, to be effective on 16th.
They further said on Thursday, the Ministry of Petroleum and Natural Resources (MP&NR) had sent back the summary of Oil and Gas Regulatory Authority (Ogra), suggesting decrease in the prices of POL products for the 2nd half of the current month. However, after finding refusal from the ministry, the Ogra prepared another summary, which was accepted by the ministry, as it decided to increase the prices of petrol by Rs 1.41/litre, high octane blended component (HOBC) by Rs 5.64/litre, kerosene oil by Rs1.94/litre and light diesel oil (LDO) by Rs 1.62/litre.
It was also learnt that the government had accepted the suggestion of Ogra to maintain the price of high speed diesel (HSD) at current level, while the new increased prices of POL products and CNG would add further woes and worries of the common man already bearing the heavy brunt of skyrocketing prices of the POL products, CNG, electricity and other items.
The new price of Petrol will be Rs 85.90/litre, HOBC Rs 112.52, kerosene oil Rs 88.19/litre and LDO Rs 85.33/litre during the second half of July. The notification about the new prices of CNG and POL products would be issued by tomorrow, sources said, adding, opinion that owing to this likely increase in the prices a tsunami of inflation would hit the markets and the consumers.