Wednesday, August 10, 2022

Petrol price hike challenged in LHC

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LAHORE: The recent hike in prices of petroleum products has been challenged in Lahore High Court (LHC), ARY News reported on Friday.

Advocate Azhar Siddique filed a plea in the LHC pertaining to fuel prices.

The petitioner stated that the federal government has jacked up the prices of petroleum products which would lead to a further rise in inflation.

He contended that cabinet permission was not sought for hike in fuel prices.

The petitioner pleaded with the court to declare the recent increase in fuel prices void.

The Oil & Gas Regulatory Authority (OGRA), the federal government and other concerned authorities have been made respondents in the case.

The federal government Thursday increased the prices of petroleum products by Rs30 per litre. The development was announced by Finance Minister Miftah Ismail while addressing a press conference in Islamabad.

After the hike, the price of petrol is set at Rs209.86, diesel at Rs204.15, and kerosene oil at Rs181.56.

It is pertinent to note here that this is the second such increase within a span of two weeks as the coalition government led by Pakistan Muslim League-Nawaz (PML-N) raised the price of petrol by Rs30 per litre on May 26, the biggest increase in fuel price in the country’s history.

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