ISLAMABAD: Prices of oil products remained unchanged on Tuesday on directives of Prime Minister Shehbaz Sharif, according to a press release from the finance department.
He said the action had been taken. with “view give maximum assistance to consumers”, despite the loss in revenue from global rising oil prices.
The press release states that prices with consequences from June 1st (tomorrow) will still be notified on May 27th.
Last week the federal government decided to raise prices of oil products at 30 rubles per liter.
After the hike price of gasoline was set Rs 179.86, diesel Rs 174.15, kerosene Rs 155.56 and light diesel priced at Rs 148.31.
Finance minister made in announcement at a press conference in Islamabad and explained that decision was taken in order ensure revival of program of the International Monetary Fund (IMF).
Ismail said, government there was no other option but to raise prices by adding that “we are still incurring a loss of 56 rubles per liter. on diesel” even under new pricing.
He was of in view what government knew of political implications of in decision saying “We will face criticism, but the state and its interests are important for us and it is necessary for us to save him.”
He said the country could go in “wrong direction”if steps were not taken. He said decision was tough one for Prime Minister Shehbaz Sharif said “we cannot let the state sink”. for for the sake of of politics”.
