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PM rejected OGRA proposals to increase prices of petroleum products

Prime Minister Imran Khan has rejected the Oil and Gas Regulatory Authority (OGRA) proposals to increase prices of petroleum products with effect from November 1st.

Proposed Prices of Petroleum Products

According to ‘Business Recorder’, The Prime Minister’s Office states that the regulator had proposed to increase the price of petrol by Rs11.53 per litre, high speed diesel (HSD) by Rs8.49 per litre, kerosene oil (SKO) by Rs6.29 per litre and light diesel oil (LDO) by Rs5.72 per litre from November 1st in view of rising prices of petroleum in the global market.

PM Imran Khan Rejected the Increase in Prices of Petroleum Products

“The prime minister rejected the proposed increase and stopped raising the prices of petroleum products. The government is giving priority to the relief of the people instead of shifting the burden of rising inflation to the people,” Government statement.

Based at current rate of petroleum levy (PL) and general sales tax (GST), the regulator had worked out an increase in petrol by 8.3 percent, HSD by 6.3 percent, LDO by 5.2 percent, and SKO by 5.6 percent with effect from November 1st, in a fortnightly review for first half of November.

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In last review with effect from October 16, the government had kept PL’s rate on petrol at Rs5.62 per litre. The rate of PL on HSD was kept at Rs5.14 per litre. The PL being charged on SKO was Rs2.06 per litre and no PL was on LDO.

The government notified GST is 6.84 on petrol, on HSD the rate is 10.32 percent and GST rates on SKO is at 6.70 percent and 0.20 percent on LDO.

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