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SBP dissects government decision on petrol price

SAMAA | - Posted: Aug 24, 2016 | Last Updated: 5 years ago
SAMAA |
Posted: Aug 24, 2016 | Last Updated: 5 years ago

ISLAMABAD: State Bank of Pakistan (SBP) revealed that Pakistan did not slash prices of petroleum products in accordance with international prices.

According to documents received by SAMAA, crude oil was traded at $112 per barrel in April 2013 with Pakistan selling petrol at Rs.102 per liter then.

Three years down the line, the crude slumped reeling to 35 dollars; but, the federal government took petrol prices down by less than 50 percent.

The experts assert that petrol and diesel prices should be buoyed up between 50 and 55 rupees per liter at par with the international market. –SAMAA
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