ISLAMABAD (Kashmir English): The federal government has decided to change the diesel and petrol prices tonight amid the ongoing conflict in the Middle East, Dunya News reported.
A meeting was held under the chairmanship of Deputy Prime Minister Ishaq Dar regarding the reserves of petroleum products and the increase in global prices, in which the increase in the prices of petroleum products was reviewed.
The meeting considered the recommendations of the Ministry of Petroleum for changing the prices, while the new price for petroleum products will be effective from tonight.
Finance Minister Muhammad Aurangzeb, Petroleum Minister Ali Pervez Malik, OGRA, and PARCO officials also attended the meeting.
Weekly revision of petrol prices approved
Earlier today, Prime Minister Shehbaz Sharif had approved the weekly revision of prices of petroleum products in view of the changing regional situation, Geo News reported.
Currently, the revision of prices of petroleum products is being done after every fortnight. The federal cabinet gives final approval to the price revision summary submitted by the Oil and Gas Regulatory Authority (Ogra).
A meeting of the Committee on Petroleum Products Stock and Consumption was held under the chairmanship of Prime Minister Shehbaz Sharif, in which the Finance Minister briefed the Prime Minister.
According to sources, the committee submitted recommendations regarding the determination of weekly prices of petroleum products, which were approved by the premier.
Sources said that the Economic Coordination Committee (ECC) will give recommendations regarding the weekly prices of petroleum products. After approval from the ECC, the federal cabinet will give final approval to the summary of petroleum products.
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