Government approves increase in petrol, CNG prices

New petrol price to be Rs93.57/ltr, CNG price in Punjab, Sindh to be Rs78.12/ltr.

Web Desk July 31, 2012

LAHORE: The government has approved an increase in CNG and petroleum prices on Tuesday, reported Express News.

The petrol price has been reportedly increased by Rs7.67, taking it to Rs93.57/ltr, while the price of High Speed Diesel has been increased by Rs4.58 taking it to Rs101.79/ltr. The price of Kerosene oil has been increased by Rs4.64, making its new price Rs92.83/ltr.

The price of CNG in Region one, consisting of Potohar, Balochistan and Khyber-Pakhtunkhwa, has been raised by Rs7, making the new price Rs84.65/kg. The CNG price in Punjab and Sindh, making up Region two, has been increased by Rs4.2, taking it to Rs78.12/kg.

Move opposed

Earlier during the day, the Pakistan Industrial and Traders Associations Front (PIAF) had opposed the proposed increase in petrol prices, saying that it will affect all sectors of life.

PIAF Chairman Engineer Sohail Lashari had urged the government to not increase the petroleum prices since the economy is already facing multiple challenges and cannot afford any further hike in POL prices.

He said that the government should focus on the promotion of alternate fuel as the trade deficit was fast widening due to heavy imports under the head of petroleum products.

He further demanded the government to remove the carbon tax to save the industry from collapsing.

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