Govt decides to maintain petrol price
Govt decides to maintain petrol price
ISLAMABAD (Dunya News) - In order to provide relief to people during the holy month of Ramazan, the government on Friday decided not to increase the price of petroleum products and accordingly MS petrol would continue to be sold at Rs108.56 per liter for next fortnight till May 15.
“In line with the vision of the Prime Minister to provide relief to the consumers in the holy month of Ramazan, the government has decided not to increase prices of petroleum products,” said a press statement issued by the Finance Ministry.
According to the statement, the implementation of this proposal required 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 on kerosene and light diesel oil.
The cumulative revenue impact of the decision would be Rs 4.8 billion, the statement added.
The statement added that the price of high speed diesel would remain unchanged at Rs 110.76; kerosene oil at Rs 80 whereas the price of light diesel oil will remain static at Rs 77.65.
The new prices would be effective from May 1 to May 15.
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Earlier today, the Oil and Gas Regulatory Authority (OGRA) had proposed to hike petroleum prices by up to Rs10.64 per liter and a summary in this regard had been sent to the Petroleum Division.
It is pertinent here to mention that the government had slashed prices of petroleum products by up to Rs2.32 per liter effective from April 15, 2021.
The government had reduced the price of high-speed diesel (HSD) by Rs2.32 per liter and the price of petrol by Rs1.79 per liter. The prices of kerosene and light diesel oil had also been slashed by Rs 2.06 and Rs 2.21 per liter respectively.
