ISLAMABAD: Prime Minister Shehbaz Shareef has rejected the Oil and Gas Regulatory Authority’s (OGRA) summary to increase the price of petroleum products.
According to the details, the current price of petroleum products will be maintained for now. The petroleum regulatory authority had sent a summary to the PM, recommending an Rs21.53 increase in per litre Petrol prices.
The OGRA had sent the summary to the Petroleum Division for making the hike in fuel prices in Pakistan from April 16.
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Sources told ARY News that the suggested hike was made on the basis of the 70 per cent of GST and Rs30 per litre levy. For petrol and diesel, the prevalent levy stands at Rs30 per litre and 17 per cent of GST.
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It was learnt that the OGRA suggested increasing the petroleum price up to Rs21.53 per litre in accordance with the prevalent tax rate, Rs51.3 on diesel, whereas, an Rs77.56 hike was proposed on kerosine oil on the basis of full tax and levy.
PML-N leader Ihsan Iqbal has said that the real problem is the devaluation of the currency which had led to historical inflation. The prices have been maintained to provide relief to the already burdened general public.
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