ISLAMABAD: The government has decided to keep the prices of petroleum products unchanged for the month of June, Finance Minister Ishaq Dar announced on Tuesday.

“In line with Prime Minister Nawaz Sharif's policy of providing maximum relief to the people, it has been decided that the prices of petroleum products will not be increased on June 1, 2016,” Dar said.

He further said “the government will absorb the full impact of maintaining the prices at the current level”.

The absorption of Rs6.69 per litre in high speed diesel by the federal government would also help the provincial governments to ensure that there is no unnecessary price hike during Ramazan on this account, the finance minister said.

Petrol and high speed diesel are two major products which generate most of the revenue in the oil sector. The average sale of HSD across the country stands at 600,000 tonnes per month, petrol at 400,000 tonnes, kerosene at less than 10,000 tonnes and HOBC lower than 6,000 tonnes.

'PM signed budget documents received'

Ishaq Dar said that the original budget documents duly signed by the Nawaz Sharif in London have been received here.

Addressing a press conference, he said that according to the Article 83 of the Constitution, the budgetary documents are to be signed by the prime minister, “so this constitutional obligation has been fulfilled”.

“Nawaz Sharif, through video link, had chaired the meeting of National Economic Council (NEC) and Cabinet on Monday to give approval to the budget proposals for the fiscal year 2016-17,” he added.

Dar said that with the Grace of Allah, the open heart surgery of the prime minister has been successful and he has been now shifted to ICU.