The government has decided not to increase the prices of petroleum products as per vision of Prime Minister Imran Khan to provide relief to consumers in the holy month of Ramazan. According to the Finance Division, existing prices of petrol, Rs108.56 per litre, High Speed Diesel Oil, Rs110.76 per litre, kerosene oil, Rs80 per litre, and light diesel oil, Rs77.65 per litre, will continue with effect from Saturday. The statement said that implementation of this proposal requires an adjustment in the rates of petroleum levy on all petroleum products and a reduction in sales tax as well in case of kerosene oil and light diesel oil. It is pertinent to mention that the government was not charging any petroleum levy (PL) on kerosene and light diesel oil. The cumulative revenue impact of the decision will be Rs4.8 billion. Earlier, the Oil and Gas Regulatory Authority (Ogra) had proposed a hike in prices of petroleum products effective from May 1. Earlier, the government had reduced oil prices up to Rs2.32 per litre effective from April 16. The government had reduced the price of HSD by Rs2.32 per liter, petrol by Rs1.79 per litre, kerosene oil by Rs2.06 per litre, and light diesel oil by Rs2.21 per litre. The agriculture and transport sectors widely use HSD. Therefore, any increase in oil price in Pakistan will have a negative impact on these two sectors.
Petroleum products prices to remain unchanged
The government has decided not to increase the prices of petroleum products as per vision of Prime Minister Imran Khan to provide relief to consumers in the holy month of Ramazan. According to the Finance Division, existing prices of petrol, Rs108.56 per litre, High Speed Diesel Oil, Rs110.76 per litre, kerosene oil, Rs80 per litre, […]
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