Headlines: NA-125: Tribunal declares Saad Rafique’s victory null and cancelled
POL prices raised by Rs3.50 per litre

ISLAMABAD: The Government has increased petroleum products prices by 3.50 rupees per litre on average.
Addressing a news conference in Islamabad Sunday, Finance Minister Ishaq Dar said the new prices will be effective from June 1.
The Minister said that OGRA had proposed increase of Rs. 6.19  per litre in MS Petrol but we have only increased the price by Rs. 3.50. So the new price per litre of Petrol will be Rs. 77.79.  For HSD against Ogra's suggested increase of Rs. 7.91 per litre, we have only increased the price by Rs. 3.51 and new price per litre would be Rs 87.12.
For Kerosene oil the government has enhanced the per litre price by Rs. 3.50 against Ogra's proposed increase of Rs. 6.53 and the new price would be Rs. 64.94 per litre.
Ogra suggested Rs. 13.25 per litre increase for HOBC, but we increased the price by Rs. 3.50, so new price is Rs. 83.81 per litre. For LDO, the Minister said against Ogra's suggested increase of Rs. 7.62 per litre, the government has increased price only by Rs. 3.57 per litre. So the new price would be Rs. 61.51 per litre.
The Minister on this occasion added that though Ogra had proposed increase per litre in the range of Rs. 6.19 to Rs. 13.25 in the above said five products but for benefit of the consumers, suggested increase in prices had been considerably lowered. After these changes in the prices, Government, the Finance Minister said would have to shoulder the burden of around Rs. 6 billion worth of subsidy for the month of June. -NNI

Latest News

    Latest Video

    PTI leading with 367 seats in LG Polls

    PESHAWAR: Pakistan Tehreek-e-Insaf (PTI) has been leading the local body polls in Khyber-Pakhtunkhwa (KP) with 367 seats while the JUI-F is following with 186 seats.
    While Independents are on second position with 222 seats of district councils and Tehsil councils. ...

    Top Stories

    More News

    The Financial Daily Epaper

    Economic Indicators

     Economic Indicators
    Forex Reserves (24-Apr-15)$17.717bn
    Inflation CPI% (Jul 14 - Mar 15)5.12%
    Exports (Jul 14 - Mar 15)$17.94bn
    Imports (Jul 14 - Mar 15)$34.05bn
    Trade Balance (Jul 14 - Mar 15)$(16.11)bn
    Current A/C (Jul 14 - Feb 15)$(1614)mn
    Remittances (Jul 14 - Mar 15)$13.33bn
    Foreign Investment (Jul 14 - Mar 15)$811mn
    Revenue (Jul 14 - Mar 15)Rs 1755bn
    Foreign Debt (Dec-14)$64.34bn
    Domestic Debt (Feb 15)Rs 12,058bn
    Repatriated Profit (Jul 14 - Mar 15)$832mn
    LSM Growth (Feb 14)0.92%
    GDP Growth FY14E4.10%
    Per Capita Income FY14$1,386
     Money Market Update
    T-Bills (3 Mths)7.3798% 29-Apr-2015
    T-Bills (6 Mths)7.2954% 29-Apr-2015
    T-Bills (12 Mths)7.2239% 29-Apr-2015
    Discount Rate8% 21-Mar-2015
    Kibor (1 Mth)7.76% 30-Apr-2015
    Kibor (3 Mths)7.47% 30-Apr-2015
    Kibor (6 Mths)7.39% 30-Apr-2015
    Kibor (9 Mths)7.64% 30-Apr-2015
    Kibor (1 Yr)7.61% 30-Apr-2015
    P.I.B (3 Yrs)7.55% 30-Apr-2015
    P.I.B (5 Yrs)8% 30-Apr-2015
    P.I.B (10 Yrs)9.05% 30-Apr-2015
    P.I.B (15 Yrs)10% 30-Apr-2015
    P.I.B (20 Yrs)10.3% 30-Apr-2015
    P.I.B (30 Yrs)10.85% 30-Apr-2015
     Open Market Currency Rates
    SymbolsBuy (Rs)Sell (Rs)
    Australian $79.7580
    Canadian $83.7584
    Danish Krone14.9015.05
    Hong Kong $13.0013.1
    Japanese Yen0.8500.88
    Saudi Riyal27.1527.4
    Singapore $74.5074.75
    Swedish Korona11.7511.85
    Swiss Franc106.00106.25
    U.A.E Dirham27.8528.1
    UK Pound155.25155.5
    US $102.60102.85
     Inter-Bank Currency Rates
    SymbolsBank Buying TT CleanBank Selling TT & OD
    Australian $81.1381.29
    Canadian $84.3984.56
    Danish Krone15.1115.14
    Hong Kong $13.1013.12
    Japanese Yen0.8570.8583
    Saudi Riyal27.0727.12
    Singapore $76.7676.91
    Swedish Korona12.1612.18
    Swiss Franc107.96108.17
    U.A.E Dirham27.6827.7279
    UK Pound156.54156.85
    US $101.66101.8432

    Hot Topic