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OGRA recommends increase in petroleum prices by up to Rs12

The petroleum prices may see the highest increase in coming month if the government accepts recommendation made by the Oil & Gas Regulatory Authority (Ogra).

In a summary moved to the government, the Ogra recommended Rs12.00 and Rs10.00 per litre increase in the prices of high-speed diesel and petrol, respectively.

The Pakistan government had increased the prices of petroleum products twice after every 15 days in January.

Sources in the petroleum division are saying Ogra prepared its summary on the basis of a levy of Rs30 per litre. Currently, the levy on petrol is Rs21.56 per litre and Rs23.9 per litre on diesel.

The final decision will be taken by the Ministry of Finance headed by Dr Abdul Hafeez Shaikh after consultation with Prime Minister Imran Khan.

The government can reduce the proposed increase to a very low level by not increasing the levy or it can maintain the current prices of petroleum products with a slight reduction in the levy.

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