Monday, July 4, 2022

PM Shehbaz Sharif rejects hefty increase in prices of POL products, upholds old rates

PM Shehbaz Sharif rejects hefty increase in prices of POL products, upholds old rates
April 15, 2022 Web Desk

ISLAMABAD (92 News) - Prime Minister Shehbaz Sharif has decided not to increase the prices of the POL products and as a result, their old prices will be maintained.

Rejecting the OGRA summary, the prime minister said that there would be in change in the prices of the POL products. "The government will bear the burden and it will not be shifted onto the masses," he declared.

The Oil and Gas Regulatory Authority (OGRA) had proposed up to Rs 51 per litre increase in the prices of the POL products.

According to the working prepared by the OGRA and sent to the Petroleum Division, it had been proposed to increase the prices of petrol and high-speed diesel by Rs21.30 and Rs51.32 per litre respectively.

The OGRA had prepared the working on the basis of minimum and maximum rate of the GST and Petroleum Levy.

Moreover, the OGRA had recommended an increase of Rs36.05 per litre in the price of kerosene oil and Rs38.89 per litre in light-speed diesel. Under the maximum rate of the Petroleum Levy and GST, it has been recommended to increase the petrol price by Rs 83.50, diesel price by Rs119 per litre, kerosene oil by Rs77.56 per litre and light-speed diesel by Rs 77.31 per litre.