Govt announces subsidy on POL products to partially cancel out hike

ISLAMABAD: Minister for Finance, Senator Ishaq Dar Sunday announced subsidy on petroleum products, partially cancelling out the hike in their prices, Geo News reported.

He approved a hike of Rs2 per liter in the price of petrol as against the earlier announcement of Rs2.66 increase. Similarly, the rate of diesel has been revised and now the new price will reflect a rise of Rs2.16 a litre.

Dar announced a subsidy of 66 paisas per litre on petrol and Rs1.50 a litre on diesel.