Petrol price in Pakistan: Govt decides against raising rates


— AFP/Report

ISLAMABAD: High Minister Shehbaz Sharif Friday rejected the proposal to hike the cost of petroleum merchandise for the length April 16-30, PML-N Financial system’s Twitter maintain mentioned Friday, a transfer made to offer aid to the loads.

The present govt’s resolution to stay the costs unchanged will drive it to offer some other hefty quantity in subsidy from April 16 to 30.

On February 28, former high minister Imran Khan introduced a discount of Rs10 in step with litre in petrol and diesel costs and a value freeze until the announcement of the funds for 2022-23.

However the Oil and Gasoline Regulatory Authority (OGRA) — an afternoon previous — had despatched a suggestion to the Finance Department to extend the cost of petrol through Rs21.50 and diesel through Rs51.30 (in line with current/present petroleum levy and GST).

In step with the proposal, the OGRA has urged an build up of Rs83.50 in step with litre of petrol and Rs119.88 in step with litre of diesel (in line with the government’s recommended petroleum levy of Rs30 and 17% GST).

Following would be the new charges:

Product New Costs w.e.f. 16-04-2022  Building up / (-) Lower 
MS (Petrol)  149.86 0
Top Pace Diesel (HSD)  144.15 0
Kerosene (SKO)  125.56 0
Mild Diesel Oil  118.31 0

Government slams PTI for preserving charges fastened

In a press convention along ex-finance minister Miftah Ismail, PML-N chief Shahid Khaqan Abbasi claimed that no nation on the earth used to be promoting petrol less expensive than its authentic price.

PML-N leader Shahid Khaqan Abbasi (right) addressing a press conference alongside ex-finance minister Miftah Ismail in Islamabad, on April 15, 2022. — YouTube/PTVNews
PML-N chief Shahid Khaqan Abbasi (proper) addressing a press convention along ex-finance minister Miftah Ismail in Islamabad, on April 15, 2022. — YouTube/PTVNews

Abbasi mentioned the incumbent govt used to be going through issues because of the previous govt’s mismanagement as that they had set the cost of petrol at Rs149, which careworn the nationwide exchequer.

Because of the PTI govt’s coverage of preserving the petroleum merchandise’ charges fastened, the rest Rs35 billion used to be paid throughout the nationwide exchequer.

“If the charges are stored the similar until June, then the federal government must pay Rs240 billion thru its personal assets […] the charges have been fastened through PTI to garner reasonable exposure,” he mentioned, whilst lashing out on the Imran Khan-led govt’s to stay the charges fastened until the following funds.

Had PM Shehbaz accredited OGRA’s abstract, then the velocity of petrol can be at Rs265 and diesel Rs235, Abbasi mentioned and famous that the former govt had fastened the charges regardless of promising the World Financial Fund (IMF) that they might hike them.

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