The government on Saturday increased the price of petrol by Rs 10.49 per liter, a Finance Ministry spokesman said
ISLAMABAD, (UrduPoint / Pakistan Point News - 17th Oct, 2021 ) :The government on Saturday increased the price of petrol by Rs 10.49 per liter, a Finance Ministry spokesman said.
In the last fortnight, global oil prices have risen by 10 to 15 percent and prices of petroleum products are also rising due to the continuous depreciation of the rupee, said a press release issued here.
The government raised prices on Oil and Gas Regulatory Authority (OGRA) recommendations, the spokesman said.
He said the government is receiving only two rupees petroleum levy from the people.
There are reports in the media that OGRA had recommended an increase of Rs 5 while the government has increased the price by Rs10 and a half which is completely wrong.
Given the prices of petroleum products in the global market, the government is imposing a minimum tax to minimize the increase in the prices of petroleum products, he said.
The government is charging Rs 5.62 instead of Rs 30 petroleum levy, he added.
The government is currently collecting 6.84 per cent tax instead of 17 per cent sales tax.
Rising of crude oil prices in the global market have created a crisis around the world.
The government is fully aware of how to protect its people in the current situation and to transfer the minimum increase to the people.
He said that Pakistan has lowest prices of petroleum products compared to other countries in the region including Bangladesh, Sri Lanka and India.
In the future too, the government will try to ensure that if the prices of petroleum products increase in the global market, then at least the increase should be passed on to the people.