Home Business Pakistan will increase petrol worth by Rs2/litre

Pakistan will increase petrol worth by Rs2/litre

by News Updater

ISLAMABAD – Petrol costs will go up by Rs 2 per litre from July 1, introduced the federal authorities on Sunday.

Particular Assistant to PM on Political Communication Shahbaz Gill in a tweet mentioned that the Oil and Gasoline Regulatory Authority (OGRA) had really useful Rs5-6/litre enhance in petrol worth however Prime Minister Imran Khan authorised solely Rs2/litre hike.

He additional mentioned that the value of diesel has been elevated by Rs1.44, as an alternative Rs3.44 proposed by the regulatory authority.

The next would be the new costs of petroleum merchandise w.e.f 1st July 2021:


Product Current Value New Value Distinction
Petrol 110.69 112.69 +2
HSD 112.55 113.99 +1.44
LSD 81.89 85.70 +3.86
Kerosene Oil 79.68 83.40 +3.72

An official assertion mentioned that the federal government has maintained the observe of preserving the costs of petroleum merchandise at an reasonably priced degree to supply aid to shoppers.

“OGRA has been recommending substantial increase in the prices of Petroleum products since 1st May 2021, corresponding to the increase in prices of the petroleum products in the International markets. However, keeping in view the welfare of the general public, the government has absorbed the impact of the increase by making adjustments in sales tax and petroleum levy,” learn the assertion.

At the moment, the petroleum levy charges are on the lowest of final six years. Through the monetary yr 2020-21, the federal government has supplied Rs. 252.41 billion subsidy to the shoppers by preserving low the petroleum levy charges towards the budgeted Rs. 30/liter on all merchandise.

Evaluating petrol costs with regional international locations in an infographic picture, the federal government mentioned that Pakistan has the bottom costs. 

On Tuesday, OGRA forwarded a abstract to the Petroleum Division, suggesting a rise by Rs6/litre in petrol worth and Rs3 in HSD worth for first 15 days of July.

Earlier this month, the Ministry of Finance gave go-ahead to extend costs of petroleum merchandise by as much as Rs2.13 from June 16.

It had authorised a rise of Rs2.1 per litre within the worth of petrol and Rs1.79 in worth of high-speed diesel (HSD). Moreover, the costs of kerosene and lightweight diesel oil have been additionally elevated by Rs1.89 per litre and Rs2.03, respectively.

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