The Federal Government is considering to change the review process for the Petrol Prices in Pakistan from bi-monthly (every 15 days) to weekly. According to the details, the change in the review process for petroleum prices is based on a pre-condition of the International Monetary Fund (IMF) for the seventh and eighth reviews.
The Petrol Prices in Pakistan are currently reviewed and changed on a bi-monthly basis (every 15 days) and this decision was taken by the Pakistan Tehreek-e-Insaf (PTI) Government. However, the Petroleum Prices were reviewed after every 30 days prior to the change by the Imran Khan-led Government.
According to IMF’s Resident Representative for Pakistan Esther Perez Ruiz, Pakistan has completed the last pre-condition by increasing the Petrol Development Levy (PDL) for the combined seventh and eighth reviews in order to get the next tranche of the $6 billion loan programme.
Petrol Prices in Pakistan (W.E.F 1 August 2022)
| PRODUCT | CURRENT PRICE (PKR) | NEW PRICE (PKR) | Change (PKR) |
|---|---|---|---|
| Petrol | 230.24 | 227.19 | -3.05 |
| High Speed Diesel (HSD) | 236.00 | 244.95 | +8.95 |
| Kerosene Oil | 196.45 | 201.07 | +4.62 |
| Light Diesel Oil (LDO) | 191.44 | 191.32 | -0.12 |
Do you agree with the Government’s decision to change the review period for Petrol Prices in Pakistan to a weekly basis rather than bi-monthly? Let us know in the comments sections belolw.
Read more: Latest Petrol Prices in Pakistan – 1 August 2022.
