ISLAMABAD, Pakistan: The federal government has decided to keep the prices of petroleum products unchanged during next month.
The decision was announced by the federal minister for finance Ishaq Dar in a press conference in Islamabad on Friday, saying that the decision was taken on instructions of Prime Minister Nawaz Sharif.
The finance minister said that the Oil and Gas Regulatory Authority (OGRA) had recommended an increase of Rs5.59 per liter in the price of motor spirit, Rs12.62 in hi-octane, Rs7.32 in kerosene oil and Rs5.50 per liter in diesel. He said that the authority had recommended Rs5.49 a liter reduction in the price of high speed diesel.
The minister said that the government would complete necessary legal and constitutional requirements by Saturday to ensure that prices remain the same during March.
Ishaq Dar further said that the country has foreign exchange reserves worth $16 billion, enough to meet import requirements for 14 months.