Govt rejects OGRA proposal to decrease prices of petroleum products

ISLAMABAD (92 News) – The government has rejected the proposal of the Oil and Gas Regulatory Authority (OGRA) to reduce the prices of petroleum products.

The OGRA had submitted a summary to the Finance Ministry to reduce the price of petrol and high-speed diesel by Rs10.30 and Rs8.65 per liter, respectively. Sources in the Finance Ministry said that the relief cannot be granted to the people due to an increase in the profit margin of dealers.

They said that Rs1.70 and Rs1.54 per are additional charges in the margin of petrol and diesel per litre. "Under the agreement with the IMF, the government has to increase Rs4 under the head of petroleum levy each month. The government is getting income of Rs27.30 on petrol and Rs33.38 on high-speed diesel per liter under the head of taxes," they added.