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PM Imran Khan rejects OGRA summary to hike prices of petroleum products

ISLAMABAD: Special Assistant to Prime Minister on Political Affairs (SAPM) Dr Shahbaz Gill has said that PM Imran Khan rejected the summary sent by the Oil and Gas Regulatory Authority (OGRA) for hiking the petroleum products’ prices,

Shahbaz Gill said in a Twitter message that OGRA had recommended an increase up to Rs 5 to Rs 10 at petroleum products prices. He added that the premier decided to maintain the prices of April 16.

A notification was also issued by the finance division, stating that the federal government decided not to increase the prices of petroleum products in line with the vision of PM Imran Khan to provide relief to the consumers in the holy month of Ramazan.

It further stated that the government was not charging any Petroleum Levy (PL) on kerosene and light diesel oil and the cumulative revenue impact of the decision will be Rs4.8 billion.

Following the notification, the price of petrol is fixed at Rs 108.56 per litre, high-speed diesel at Rs 110.76 per litre, kerosene oil at Rs 80 per litre and Rs 77.65 per litre for light diesel oil.

Earlier, the Oil and Gas Regulatory Authority (Ogra) had forwarded a summary to the Petroleum Division seeking Upward revision of fuel prices for the next fifteen days starting May 1 (Saturday). The regulatory authority had recommended an increase of Rs5.75 in the per litre price of petrol while Rs6 increase in that of diesel.

The Ogra recommended the increase in the prices of petrol and diesel on the basis of the current petroleum levy. The current levy on petrol is Rs 11.23 while that on diesel Rs15.29.On April 15, the federal government had slashed the prices of petroleum products by up to Rs2 per litre. According to a notification, the government reduced the price of petrol by Rs1.79 per litre, high-speed diesel by Rs2.32, kerosene by Rs2.06, and the rate of light diesel oil was slashed by Rs 2.21 per litre.

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