ISLAMABAD: The government has increased the price of kerosene by Rs 39.20 per liter, the new price of kerosene has been set at Rs 358.1 per liter.
It was decided to maintain the levy on petrol at Rs 105.37 per liter and the levy on diesel at Rs 55.24 per liter.
The Ministry of Energy says that the government will pay a subsidy of Rs 23 billion by maintaining the prices of petrol and diesel. The subsidy of Rs 23 billion will be paid from March 14 to March 20. The subsidy of Rs 49.63 per liter on petrol while the subsidy of Rs 75.5 per liter on diesel will be paid.
The Ministry of Energy says that this amount will be paid to oil marketing companies as price differential claims, the price differential claims of Rs 23 billion will be paid by OGRA.
The Ministry of Energy said that the cabinet has approved the establishment of the Prime Minister’s Austerity Fund. The Cabinet’s Economic Coordination Committee approved the transfer of Rs 27.1 billion to this fund. The procedure for payment of the price differential will also include verification and audit of bills received from OMCs.
