KARACHI: The Sindh Assembly on Monday unanimously passed a resolution seeking to fix the petrol price at forty rupees per liter.
The joint resolution was tabled in the provincial assembly after consultation between the PPP and opposition members.
The resolution demands further Rs 31.25 reduction in the petrol price to fix the rate at Rs 40 per liter.
The resolution states that the government is not transferring the real benefits of oil price reduction in the international market to the masses.
Earlier on Sunday, the federal government reduced prices of the petroleum products by Rs 5 per liter.
Petrol stands at Rs 71.25 per liter after the revised price while high speed diesel at Rs 75.79. Kerosene oil is now being sold at Rs 43.25 per liter while light diesel at Rs 39.94 per liter. High octane price has also been fixed at Rs 75.66 per liter.
The announcement was first made on Saturday by Prime Minister Nawaz Sharif in Lahore.
The Prime Minister said that inflation has fallen below two percent and the government is making efforts to provide as much relief to the people as possible.
On January 29, the Oil and Gas Regulatory Authority (OGRA) had forwarded a summary seeking Rs 7.56/litre cut in petrol price while high speed diesel by Rs 10.15 per litre.
According to reports, petrol has hit the lowest price of USD 25 per barrel in international market while the government is charging more than twofold per litre under taxes.
Pakistan State Oil (PSO) is purchasing Arab Light Oil from Gulf market for USD 25 per barrel.
The government is pocketing Rs 3.76 transportation charges, Rs 2.35 distribution margin, Rs 3.8 dealer margin, Rs 10 petroleum levy and 21 percent general sales tax (GST).
Refined high speed diesel is purchased from Gulf market for Rs 31 per litre. However, the petroleum product is bulked up with taxes for the locals which include Rs 2.35 distribution charges, Rs 2.60 dealer margin, Rs 8 petroleum levy, 47 percent GST and Rs 1.71 fred charges.
Anaylysts suggest that the government can relieve the people by cutting GST and petroleum levy. NNI