ISLAMABAD: The federal government has raised the prices of kerosene oil and light diesel oil (LDO) while keeping petrol and high-speed diesel rates steady, using a combination of the petroleum levy and subsidies to offset rising costs
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According to the Ministry of Energy (Petroleum Division), kerosene oil has been increased by Rs39.20 per litre, bringing the new rate to Rs358.01 per litre. LDO prices have surged by Rs67.51 per litre, now set at Rs302.52 per litre, up from Rs235.01.
Petrol and diesel levies remain unchanged at Rs105.37 and Rs55.24 per litre, respectively. To maintain retail prices for consumers, the government will provide a Rs23 billion subsidy from March 14 to March 20. This includes Rs49.63 per litre on petrol and Rs75.05 per litre on high-speed diesel, paid to oil marketing companies as compensation for the difference between market and retail prices.
The Oil and Gas Regulatory Authority (OGRA) will oversee disbursement, verification, and audit of the subsidy claims. Meanwhile, the Finance Division has secured cabinet approval to establish a “Prime Minister’s Austerity Fund,” with Rs27.10 billion allocated to cover the subsidy payments.
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