ISLAMABAD: Following the orders of Supreme Court of Pakistan, Oil & Gas Regulatory Authority (OGRA) has taken back its notification immediately regarding hike in petroleum prices.
The new announcement made by the OGRA officials on Friday (today) in accordance to the apex court’s decision, resultantly the petroleum products prices is settled back to its previous stage as in June 1.
According to OGRA, the price of petrol is Rs99.7 and the diesel price is Rs104.5 while the notification will be effective right away.
Earlier, Chief Justice Iftikhar Muhammad Chaudhry chaired three-member bench declared the additional imposition of GST on petroleum prices unconstitutional.
SCP took suo moto notice when petroleum products’ prices were significantly increased after the imposition of additional GST.