OGRA proposes increase in prices of petroleum product from June 16

On Wednesday, the Oil and Fuel Regulatory Authority (OGRA) despatched a abstract to the petroleum division for another increase in petroleum product prices from June 16.

In keeping with sources, the oil regulatory authority has ready a abstract requesting a rise in petroleum costs from June 16 in gentle of negotiations with the Worldwide Financial Fund (IMF).

In keeping with sources, the authority has additionally proposed ending gasoline value subsidies. Regardless of a Rs60 per litre improve in petroleum costs within the final 15 days, the federal government continues to supply subsidised gasoline at Rs9.3/litre and diesel at Rs23.05/litre.

Nevertheless, the prime minister will make the ultimate choice on petroleum product costs.

The rupee, alternatively, continued to fall in opposition to the US greenback within the interbank market, with the dollar gaining Rs1.21 throughout early Wednesday buying and selling.