Double Click 728 x 90
Double Click 900 x 250

Petrol price to remain unchanged till May 31st in Pakistan: Farrukh Habib


Muhammad UsmanMultimedia Journalist

17th May, 2021. 10:09 pm
Double Click 160 x 600
Petrol price remain unchanged till 31st May

On Monday, Farrukh Habib, State Minister for Information and Broadcasting said that the petroleum products prices in Pakistan will remain unchanged till May 31st.

The state minister announced it via Twitter and said,

“The petroleum products price will remain the same till May 31,” adding that Prime Minister Imran Khan does not want to put burden on people despite the increasing rates in the international market.

Farrukh Habib claimed if the rates of petroleum products are not increased that the national exchequer would suffer a loss of Rs2.77 billion.

“The government has not only adjusted petroleum levy but also reduced the sales tax on light diesel and kerosene oil.”

Therefore, petrol will continue to cost Rs108.56 per litre, diesel Rs110.76 per litre, kerosene oil Rs80, and light diesel oil Rs77.65 per litre.

Earlier today, the government had increased the prices of petroleum products by Rs 3.

The Oil and Gas Regulatory Authority (OGRA) had sent a summary of changes in prices of petroleum products to the Petroleum Division.

According to sources, the OGRA had recommended a Rs1.90 increase in per litre price of petrol while a Rs3.25 increase in that of high-speed diesel.

After seeking approval from Prime Minister Imran Khan, the new price for petrol after the rise would be Rs110.49 whereas, for diesel, the new price would be Rs114.11.

However, the new prices for petrol and high-speed diesel would be applicable from 12 a.m (tonight).

The government had earlier decided on 10th May to maintain the sales tax rate on petrol and high-speed diesel.

According to the notification issued by the government, the sales tax rate on petrol and diesel will remain at 17%.

The notification said that the sales tax rate on kerosene has been reduced from 17% to 15.44% while the sales tax rate on light diesel has been reduced from 17% to 7.56%.

Earlier, Prime Minister Imran Khan had decided that the price of petroleum products would not be increased. The OGRA summary recommended an increase of Rs. 5 to 10.

The Prime Minister rejected it and decided to maintain the April 16 prices.

According to the notification issued by the Finance Ministry, the price of petrol has been fixed at Rs 108.56 per litre, high-speed diesel at Rs 110.76 per litre, kerosene at Rs 80 per litre and light diesel at Rs 77.65 per litre.

The government is bearing the burden of Rs 4.8 billion by maintaining prices.

As the prices of petroleum products remained unchanged in the month of Ramadan, a spokesperson for the Oil and Gas Regulatory Authority (OGRA) said on Saturday that new prices of petroleum products will be decided on May 17.

Due to the Eid holidays and May 8-16 curbs, it was decided that the new prices of the petroleum products will be determined on May 17 (Monday).

The government had earlier decided on 10th May to maintain the sales tax rate on petrol and high-speed diesel.

According to the notification issued by the government, the sales tax rate on petrol and diesel will remain at 17%.

The notification said that the sales tax rate on kerosene has been reduced from 17% to 15.44% while the sales tax rate on light diesel has been reduced from 17% to 7.56%.

Earlier, Prime Minister Imran Khan had decided that the price of petroleum products would not be increased. The OGRA summary recommended an increase of Rs. 5 to 10.

The Prime Minister rejected it and decided to maintain the April 16 prices.

According to the notification issued by the Finance Ministry, the price of petrol has been fixed at Rs 108.56 per litre, high-speed diesel at Rs 110.76 per litre, kerosene at Rs 80 per litre and light diesel at Rs 77.65 per litre.

The government is bearing the burden of Rs 4.8 billion by maintaining prices.

It should be noted that on April 1, the federal government had reduced the price of petrol by Rs 1.5.

According to the notification issued by the Finance Ministry, petrol was reduced by Rs 1.55 per litre for the next 15 days, diesel by Rs 3 per litre and kerosene by Rs 55 per litre. Similarly, the price of light diesel oil has been reduced by Rs. 1, 56 paise per litre.

According to the Finance Ministry, the new price of petrol has been fixed at Rs 110.35 per litre, diesel at Rs 113.8 per litre, light diesel at Rs 79.86 per litre and kerosene at Rs 82.06 per litre.

It may be recalled that since February 15, Prime Minister Imran Khan had repeatedly rejected summaries and decided to maintain prices. On February 15, Prime Minister Imran Khan rejected a proposal to increase the prices of petroleum products.

OGRA had proposed an increase of Rs 14.07 per litre in petrol and Rs 13.61 per litre in high-speed diesel. Kerosene was recommended at Rs 10.79. OGRA had proposed an increase of Rs 7.43 in the price of light diesel.

Prime Minister Imran Khan said that the government would go to any lengths to provide relief to the people.

On February 28, Prime Minister Imran Khan once again announced that prices would be maintained.

Dr Shahbaz Gill, Special Assistant to Prime Minister Imran Khan, said in a statement on social networking site Twitter that OGRA had proposed to increase the price of petroleum products by about Rs 6-7 per litre.

Prime Minister Imran Khan did not approve the proposal. There was no increase in the prices of petroleum products. Despite the continuous rise in the prices of petroleum products in the world market, the Prime Minister did not allow it.

On March 15, the government once again decided to keep the price of petrol stable.

A statement issued by the finance ministry said the government was not raising petrol and high-speed diesel prices but would increase the price of kerosene by Rs 3.42 per litre and light diesel by Rs 2.19 per litre.

It may be recalled that during the first two and a half months of this year, the government has increased the price of petroleum products five times in a row. In the same period, petrol was earlier priced at Rs 11.21 per litre.

During the first two and a half months of this year, high-speed diesel was priced at Rs 14.64 per litre.

In the same period, kerosene price was increased by Rs 14.90 per litre. In two and a half months, light diesel was priced at Rs 16.37 per litre.

Double Click 300 x 250

Download BOL News App for latest news