Saturday, January 17, 2009
By Jawwad Rizvi
LAHORE: Pakistan Refinery Ltd (PRL) and Pak-Arab Refinery Ltd (PARCO) on Friday increased prices of furnace oil.The PRL has fixed new price of furnace oil at Rs21,793 per tonne excluding General Sales Tax (GST) compared to previous Rs21,070, an increase of Rs723. Similarly, PARCO increased furnace oil price by Rs310 at Rs22,760 per tonne excluding GST compared to Rs22,450 earlier.The Ministry of Petroleum in its notification dated January 14 had announced that the review of petroleum products’ prices including high-speed diesel (HSD) would be on monthly basis ie first of every month instead of existing fortnightly review. The next review would now be on February 1.The notification stated that the new monthly system would also be applicable to the refineries as well. However, the two refineries have increased the prices of furnace oil despite the government’s instruction. —JR
Published in The News in Business pages
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