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Federal Minister for Finance and Revenue Ishaq Dar has dismissed reports claiming that the Oil and Gas Regulatory Authority (OGRA) had recommended a reduction in the petroleum prices in the latest fortnightly update, terming them as “baseless”.
“Some reports have been circulating in the press and electronic media stating that OGRA made recommendations to the government for a reduction in the price of Motor Spirit/Petrol with effect from 1st May 2023, which are baseless and untrue,” said the finance minister on Twitter on Tuesday.
Clarification!
Some reports have been circulating in the press and electronic media stating that OGRA made recommendation to the Government for reduction in the price of Motor Spirit/Petrol with effect from Ist May 2023, which are baseless and untrue.
— Ishaq Dar (@MIshaqDar50) May 2, 2023
On Sunday, Dar stated that the government had chosen to maintain the price of petrol at Rs282 per liter for the upcoming two weeks while lowering the cost of high-speed diesel (HSD) by Rs5 per liter.
Dar also claimed in a brief video speech that light-speed diesel and kerosene oil now cost Rs 10 less per liter.
Before a price-revision, OGRA, the regulator, sends its recommendations to the prime minister who reviews the changes, if any, before making a final announcement.
