PM Rejects Hike In Petroleum Prices For August
Mohammad Ali (@ChaudhryMAli88) Published July 30, 2016 | 10:10 PM
ISLAMABAD, (UrduPoint / Pakistan Point News - 30th july, 2016) : Prime Minister Muhammad Nawaz Sharif has turned down an increase in the fuel prices proposed by the Oil and Gas Regulatory Authority (OGRA).
The prices of petroleum products would remain unchanged for the month of August 2016, Minister for Finance Muhammad Ishaq Dar announced here on Saturday. "The OGRA had presented a summary to the Prime Minister proposing increase of oil prices by four to nine per cent which was rejected by the Prime Minister," he added. He said the government would have to absorb the financial impact of around Rs 2 billion in the form of revenue loss after the Prime Minister had decided not to burden the consumers. Giving details, the minister said that the OGRA had proposed to increase the price of Petrol by Rs 2.12, the price of High Speed Diesel by Rs 0.26, the price of Kerosene Oil by Rs 3.94 and the price of High Octane Blended Component (HOBC) by Rs 0.60.
The OGRA had also proposed to reduce the price of Light Diesel Oil by Rs 1.24. He said for August 2016, the price of Petrol would be kept unchanged at Rs 64.
27 per liter, HSD at Rs 72.52, Kerosene Oil at Rs 43.25, HOBC at Rs 72.68 and Light Diesel Oil at Rs 43.35. The minister dispelled the impression that the current government had imposed extra duties on petroleum products. Giving comparison in this regard, Ishaq Dar said the General Sales Tax (GST) on Petrol in March, 2013 was Rs 14.70 per liter and Petroleum Development Levy (PDL) was Rs 10 per liter against GST of Rs 9.34 and PDL of Rs 8.19 per liter as of June 1, 2016, which would remain unchanged on August 01, 2016 It is worth mentioning that on March 1, 2013 petrol per liter was sold at Rs 106.60, with Rs 14.70 GST and Rs10 PDL, HSD at Rs 113.56 carrying Rs 15.66 GST and Rs 8 PDL, Kerosene oil at Rs 103.69 with Rs 14.30 GST and Rs 6 PDL, HOBC at Rs140.06 with Rs 19.32 GST and Rs 14 PDL, and LDO at Rs98.26 with Rs 13.55 GST and Rs 3 PDL per liter. The GST and PDL during the upcoming month of August on per liter HSD would be Rs 15.86 and Rs 7.80, Kerosene Rs 2.06 and Rs 3.09, HOBC Rs 10.56 and Rs 13.49, and LDO Rs 3.40 and Rs 2.86 respectively.
Related Topics
Recent Stories
Dar for joint action to counter Islamophobia in context of Israeli aggression ag ..
Azam Tarar urges for effective implementation of Action Plan for Human Rights
PAF cadets' graduation ceremony held
One-day national seminar "Great Power Competition: Challenges and Opportunities ..
10 firms submit LoIs for PIA: Aleem Khan
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
PM forms inquiry committee to probe matter of wheat import
E-Evidence system inaugurated in Bahawalnagar district courts
Bitterness at UCLA as Gaza protest cleared
Kenya, Tanzania brace for cyclone as heavy rains persist
DC reviews seven-day anti-polio drive in Federal Capital
More Stories From Pakistan
-
Dar for joint action to counter Islamophobia in context of Israeli aggression against Palestine
2 hours ago -
Azam Tarar urges for effective implementation of Action Plan for Human Rights
2 hours ago -
PAF cadets' graduation ceremony held
2 hours ago -
One-day national seminar "Great Power Competition: Challenges and Opportunities for Pakistan" held
2 hours ago -
Saudi Arabia launches Nusuk pilgrim card for the Hajj of 2024
2 hours ago -
High Commissioner Hawkins hosts reception to mark 'Australia Day in Spring'
2 hours ago
-
PM forms inquiry committee to probe matter of wheat import
2 hours ago -
E-Evidence system inaugurated in Bahawalnagar district courts
2 hours ago -
DC reviews seven-day anti-polio drive in Federal Capital
2 hours ago -
President stresses measures to ensure safety, security of journalists
2 hours ago -
Speakers for joint efforts to boost global climate action through Climate Action Committee
2 hours ago -
IHC adjourns hearing of appeals against conviction in cipher case
2 hours ago