Industries demand oil price reduction

Industrialists have condemned the recent hike in diesel and petrol prices and urged the prime minister to take action and reduce the rates. On the one hand, the PM announced the Uraan Pakistan programme while on the other hand, institutions were raising prices of petroleum products, which reflected a stark contrast in policies, the industrialists said. According to a notification issued by the finance ministry, the Oil and Gas Regulatory Authority (Ogra) had worked out consumer prices of petroleum products in view of fluctuations in the international market. The price of high-speed diesel (HSD) was increased by Rs2.96 per litre, up from Rs255.38 to Rs258.34 per litre. Similarly, the price of motor spirit (MS), or petrol, was raised by Rs0.56 per litre, up from Rs252.10 to Rs252.66 per litre.