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Finance Minister Ishaq Dar announced on Saturday that the price of petrol and diesel will remain unchanged heading into 2023.
In a televised address, the finance minister said the price of kerosene oil and light diesel will also remain the same.
The price of diesel will remain at the existing price of Rs227.80 per litre, petrol at Rs214.80 per litre, kerosene oil at Rs171.83 per litre and light diesel oil at Rs169.00 per litre, he added.
The finance minister said that following a rise in the prices of petroleum products in the international market, the Oil and Regulatory Gas Authority (Ogra) had recommended a slight upward revision in the tariff for kerosene and light diesel oil.
The regulatory authority’s recommendation was not passed by the government on Prime Minister Shehbaz Sharif’s directives, Dar added.
“The decision was taken after considering that the weather is cold and the poorest people use light diesel oil for tubewells while kerosene is also used by people earning the lowest incomes,” he said.
“According to the prime minister’s directives, it has been decided that the government will absorb the levy on these two products and reduce the collected amount to maintain these prices.”
He also later said that the decision to keep prices unchanged was taken to “provide relief to the common man, despite increase in the prices of these products in the international markets!”.
On December 15, the government cut the price of petrol by Rs10 and diesel by Rs7.5.
The price of kerosene oil was slashed by Rs10 on Nov 30 while the price of light diesel oil was reduced by Rs7.5 per litre.
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On DawnNews
Comments (87) Closed
Dec 31, 2022 05:06pm
What a great achievement worthy of a Noble prize?
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Dec 31, 2022 05:09pm
Say something New. By the way how much free petrol you are taking.
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Dec 31, 2022 05:14pm
At the end of the day, Dar will escape and fly back to his home, but Pakistan can't escape from IMF requirements, unfortunately.
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Dec 31, 2022 05:22pm
Wait for new year gift in the next couple of days.
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Dec 31, 2022 05:25pm
The final nail, this is. Default is inevitable.
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Dec 31, 2022 05:28pm
Ohh really...
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Dec 31, 2022 05:30pm
All have failed. Civil government, the Army and the opposition took people for granted. It will be a miracle if Pakistan does not declare itself 'Bankrupt' within another 3-4 months.
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Dec 31, 2022 05:36pm
Thank you Mr Ishaq Dar. But please do some changes for betterment for support of poor majority of Pakistanis, take some steps against profiteering, the hoarders, wheat rice vegs meat are locally produced items, the poultry, the dairy items, the baby milk, baby foods, should be given special dispensation, and steps be taken to keep prices at affordable level. And last but not least the scholarships for brilliant students in every field be given with generosity.
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Dec 31, 2022 05:37pm
My vote is pukka for PMLN! True party of the poor and downtrodden.
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Dec 31, 2022 05:44pm
This is tragic. PDM folks have no idea about the consequences of their actions.
Even a middle school student can understand the mathematics behind, but, alas, not the rulers of Pakistan.
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Dec 31, 2022 05:44pm
But tomorrow, he will announce price increases on other items, tax hike and more fees and duties on box of tissues, lolipops and even on imported bag of chips!
Never say never with these crooks.
Be prepared for surprises and expect the unexpected.
Do you really think he had to announce that "petrol prices to remain unchanged"? There's a hint in it. Read between the lines.
Did he ever announce, '"tax rates to remain unchanged"?? Or price of wheat will not increase??
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Dec 31, 2022 05:47pm
These guyz are totally incompetent they think by keeping prices down and absorbing losses is going to fill the coffers? It’s clear they are to bankrupt so they can get away with looted money rather than let me khan in. I suggest you get em out now and give them the rope before there is no more Pakistan.
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Dec 31, 2022 05:57pm
Petrol prices have come down drastically in International market in last few weeks. Still people of Pakistan are forced to pay higher prices by this thuggish group of PDM rulers and establishment is Neutral. The crimes against common man must stop immediately.
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Dec 31, 2022 06:02pm
Bye Bye to IMF program.
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Dec 31, 2022 06:05pm
Petrol prices remain unchanged : sincerely m Riaz & co.
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Dec 31, 2022 06:07pm
Great. What a superhero. All bow down to him
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Dec 31, 2022 06:08pm
Hows the fake dollar rate going on Mr Dar?
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Dec 31, 2022 06:10pm
One can see deep concern on his face.
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Dec 31, 2022 06:15pm
We know the government does not have the money to absorb it. IMF is waiting with the whip
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Dec 31, 2022 06:17pm
OIC dont give oil to pakistan at throw away prices or on discounts? no muslim brotherhood !!!!!
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Dec 31, 2022 06:19pm
Dar's ego is damaging economy same way Niazi did. Both knew subsidies need to go, and tough decisions need to be taken, but just for sake of popularity delay the inevitable. Shame on you Dar. Only straightforward and truthful leader in recent times was Miftah, but you kept pulling his leg.
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Dec 31, 2022 06:19pm
Thanks Dar, PDM and neutrals!
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Dec 31, 2022 06:22pm
Imran Khan threw away IMF commitment to trap future governments. IK's gang had been getting away with their thefts and looting, by feeding into 7 decades of fake propaganda against civilian governments. But International organizations do not believe in the speeches. Its your moral and legal responsibility to own their commitments. Too bad its not IK having to own the mess but yet another civilian government, getting the hate for mistakes of someone else.
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Dec 31, 2022 06:26pm
Thanks Awami Government
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Dec 31, 2022 06:27pm
Overruling OGRA’s recommendation means the nation will subsidise Rs 10 on every liter of petrol. FX reserves will further deplete. Good move FM
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Dec 31, 2022 06:28pm
so the money we borrowed as a country is to be doled out to the middle classes in the form of petrol subsidies, all because its election time. What a total waste of money. Then we simultaneously ask why there's no development! Money that should be used for development is spent to win an election. These people need to be kicked out on their ears.
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Dec 31, 2022 06:29pm
One of the fundamental principles of dar-ruin-comics is high fuel prices are good to accelerate recession, close factories and construction sites , and basically starve the citizens . Never tax the rich , but suck the blood of the poor at will .
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Dec 31, 2022 06:30pm
Mr. Ishaq Dar can support economy by putting 1pc taxes on every kind of Properties across Pakistan through FBR. In return the federal will promises property security, property registration by FBR. Owners paying taxes 5 years long will be waived from property transferable charges. Putting taxes on all kind of properties country wide will generate fresh type of revenue. Secondly try to pay attention on overseas and foreigners. Make policies to attract foreigners and overseas.
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Dec 31, 2022 06:34pm
Wow what a change just disclosed by finance DAR
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Dec 31, 2022 06:36pm
How are you going to control inflation - if you don’t reduce the demand for the products?
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Dec 31, 2022 06:44pm
Petrol prices to remain unchanged = NO IMF talk.
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Dec 31, 2022 06:58pm
Dollar price will hit 340 Rs to one as soon Dar goes.
Please keep your Dollars safe.
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Dec 31, 2022 06:59pm
Excellent job , petrol prices to be same for the year 2022
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Dec 31, 2022 07:10pm
Do you really think you can fool people like that?
It matters not what Ogra recommended, what did IMF want??
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Dec 31, 2022 07:13pm
Poor govt,, they are doing so much for people sacrificed their lives & pockets!!!!
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Dec 31, 2022 07:24pm
Likely indication that IMF talks are broken
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Dec 31, 2022 07:34pm
Thank you Dollar Sahib
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Dec 31, 2022 07:38pm
Where are those economists who use to compare the economy of years. Have they lost their senses this year end. Or got to stir to shut their mouth and laptops
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Dec 31, 2022 07:46pm
Great they will be put up next year !
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Dec 31, 2022 07:49pm
Dar is not only a criminal but also a pathological liar!
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Dec 31, 2022 07:53pm
Gasoline price going down and government celebrate to unchange price.
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Dec 31, 2022 07:53pm
Anyone who trusts this guy is a fool
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Dec 31, 2022 07:55pm
I like his Burbury scarf.
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Dec 31, 2022 07:56pm
Always lying to the public, globally prices have collapsed but these thieves make out they are absorbing levy.
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Dec 31, 2022 07:58pm
What a man!
Gave a befitting reply to petrol and oil prices!
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Dec 31, 2022 08:01pm
The question remains that did the govt. which is bound to fulfill the conditionalities of the IMF, sought its blessing before announcing no change in the POL prices? If not then the release of next tranche of $1.2 billions by the IMF will become a piper’s dream. Good luck to the majority of poor of this unfortunate country faced with multiple evils of poor governance, sinking economy with 33% inflation and 100% risk of default, and rise of terrorists activities. Let us hope for the best!!!
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Dec 31, 2022 08:30pm
Every time petrol prices need to go down, he gives us the ‘good news’ that they will remain unchanged.
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Dec 31, 2022 08:38pm
The people will not forgive these people for the destruction they brought to this country and will not forgive those who wrote columns to support them.
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Dec 31, 2022 08:43pm
What a relief
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Dec 31, 2022 08:44pm
I am surprised Mr. Dar did not say that these prices are cheaper than in India and so everything is fine in Pakistan (BTW they ARE cheaper than in CA, USA where I am paying PKR 240 per liter)
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Dec 31, 2022 08:50pm
Does he have a degree in finance , we could export this highly skilled man and earn some foreign exchange , the west is begging for him .
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Dec 31, 2022 08:50pm
Dar and his boss seem to be suffering from artificial intelligence. There policies have failed in the past and are a failure now.
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Dec 31, 2022 08:53pm
Dar is lying. International prices have gone down but no relief for people of Pakistan
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Dec 31, 2022 09:00pm
Zero credibility.i don't even know the media covers these statements
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Dec 31, 2022 09:01pm
Petrol prices has dropped significantly across the globe. These thugs and frauds are compulsive liars.
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Dec 31, 2022 09:04pm
@Azhar Ali, Pasaaleeese sir. Ik was there for a fraction of the time compared to these ancestral looters. He inherited difficult situation only to be swindled their put us in a much worse predicament. There is no turning back. Read the rewards of your handlers and payors. People like you but answerable to your children and grandchildren when they look at you and ask about your role in destroying or saving the country
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Dec 31, 2022 09:09pm
The forex reserve which pakistan has left with SBP are deposits put there by the Saudis, UAE & China. They cannot be withdrawn and be used for providing any relief to the common civilians there. Pakistan is already facing the abyss.
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Dec 31, 2022 09:21pm
Next month ..default is inevitable now for sure. Industries shutting. No LC opening. No payments no exports. Skyrocketing inflation. Wandering what will happen..loot and cicvil war perhaps
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Dec 31, 2022 09:22pm
He never stops lying to cover his incompetencey
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Dec 31, 2022 09:34pm
Great work. Now to somehow increase forex reserves.
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Dec 31, 2022 09:35pm
It seems Mr Dar is hellbent on making Pakistan bankrupt and bringing the default D day nearer. What a genius wizard
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Dec 31, 2022 09:49pm
Mr. Dar Pakistan needs new opportunities to be run properly. Baluchistan, Sindh Land record isnt online. Kpk and Punjab land record are online. Unfortunately the things that has to be done since the birth of Pakistan are still in pending. Pakistan should be free from such minor problems. Another things is tax that isn't utilized properly on infrastructure and on social activities. Besides, strong states give more jobs opportunities that Pakistan is neglecting since past 75 years.
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Dec 31, 2022 09:51pm
Everywhere in the world oil price has gone down. In PK it’s the same. Another fraud
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Dec 31, 2022 10:04pm
Crooks have no policies. In U.S., prices fluctuate every day according to the World Market. Pakistan does not follow the world market and prices are set according to how much crooks share is in it. People suffer as it’s never fair.
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Dec 31, 2022 10:14pm
90% is used by people with above average economical background!
They get petrol at price same as US and probably much cheaper than in Europe!
Who is paying for these subsidies for higher income group?
Car is imported and petrol is imported!
Food prices are increasing and people are queuing up to by wheat flour!!!
What a mess!
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Dec 31, 2022 10:23pm
Prices of fuels in intl market decrease dày by day . So how OGRA recommend slightly increase. What about recommendations of OGRA regarding Petrol and high speed diesel?
That's just to compelling common man to bear the load of corrupt practice of elite class .
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Dec 31, 2022 10:40pm
You are poised to take the country down hill for your personal gains
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Dec 31, 2022 11:32pm
The petrol prices are based on international prices and since international prices are as low as they were in Jan 2022, the minsiter cannot take the credit of keeping "the price unchanged".
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Jan 01, 2023 12:02am
Do not pay any heed to what Dar says. Follow the money trial to UK in the bank accounts of Sharif, Zardari and now a new crook Bajwa, who bankrupted Pakistan for mansions overseas.
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Jan 01, 2023 12:02am
Stop giving free petrol to the rich like MNAs, MPAs, judges, etc.
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Jan 01, 2023 12:04am
@Fayyaz, you got it. There are many more of his incompetent partners, who have made a complete mess of the economy, governance and law and order situation in this unfortunate country.
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Jan 01, 2023 12:06am
@Dr. Salaria, Aamir Ahmad,
Dar should get a noble prize for bankrupting Pakistan and getting themselves very rick. Where else you can do this and travel in the plane of the PM owned by Pakistan Air force.
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Jan 01, 2023 12:07am
@Alexa,
Thank you for saying the truth but it still hurts.
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Jan 01, 2023 12:10am
@Dr. Salaria, Aamir Ahmad, his greatest achievements are making his 550 millions rupees bank account operable and a mansion worth billions rupees taken away from the clutches of impotent NAB. He care a damn if the country’s economy on the verge cf total collapse reaches its final goal of default soon.
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Jan 01, 2023 12:16am
Nice, but how does a bankrupt government afford to subsidize anything. This man, like the rest of the government, is removed from reality or don’t want to face it….
No solid plan for resurgence of economy has been shared . Making everyone a fool is this governments MO.
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Jan 01, 2023 12:57am
People deserve the decision for discount in diesel price, at least.
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Jan 01, 2023 01:06am
@Azhar Ali, we don’t want pakistan to be looking towards IMFto resolve our economic crisis. Honestly if we did not had money laundering and moving national wealth by some politicians we would have not this issue.
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Jan 01, 2023 01:28am
@TimeToMovveOn, he has many many Burberry Scarfs. Thanks to Pakistani Taxpayers.
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Jan 01, 2023 02:18am
In a televised address, the finance minister said the price of kerosene oil and light diesel will also remain the same.
He looks sick, his sums are not adding up, disaster looms. Nawaz sharif's munshi.
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Jan 01, 2023 02:38am
Dar is too glued with the petrol prices, he forgot why he was brought back to Pakistan.
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Jan 01, 2023 03:16am
Please make the dollar price lower with your experience and wizardry. You are a genius and should be made a finance minister for life. You managed to end all corruption cases against you with ease. This is a great achievement
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Jan 01, 2023 04:36am
So, when Dar claimed form London that he would bring down the price of petrol, was he lying as usual?
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Jan 01, 2023 06:08am
@Fayyaz Hafeez, That requires knowledge in economics which he totally lacks.
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Jan 01, 2023 08:04am
Worldwide the prices of petrol is coming down governments are reducing the prices at the pumps.but in pakistan this joke of a government is keeping the price the same and its doing us a favour
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Jan 01, 2023 09:38am
I quit sending dollars because of Government unfair control over exchange rates
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Jan 01, 2023 11:07am
Dar should get lost now.
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Jan 01, 2023 03:33pm
Please stop managing the exchange rate. You will see a substantial increase in remittances which will help solve some of the problems country is facing.
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