Sunday, October 24, 2021

Petrol price hike challenged in LHC


LAHORE: A petition challenging the recent hike in prices of petroleum products was filed in the Lahore High Court (LHC) on Saturday.

Advocate Azhar Siddiqui moved the petition, requesting the court to set aside the government’s decision to jack up prices of petroleum products.

He stated in his petition that while prices of petroleum products have decreased in the global market, the federal government increased fuel prices. The government has already been charging tax on petroleum products, which is taking a heavy toll on consumers, he added.

Read More: Petrol price jacked up by Rs. 9; to be sold at Rs. 108 per litre

Earlier, on May 3, the Economic Coordination Committee (ECC) approved an increase in prices of petroleum products by Rs 9 per litre for the month of May.

The price of petrol stands at Rs. 108 per litre after the increase. The meeting also approved the proposed increase in diesel price by Rs 4.89 per litre, light diesel by Rs 6.40 and kerosene by Rs7.46.

Prime Minister Imran Khan had referred the matter of petroleum prices to the ECC following recommendation by Oil and Gas Regulatory Authority (OGRA) to increase petrol prices by more than Rs 14 per litre.

The decision was taken in the wake of an increase in the prices of crude oil in international market and currency devaluation.

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