ISLAMABAD: The government has increased the price of high speed diesel (HSD) by 3.9 percent, however it has decided to maintain the prices of other petroleum products at the existing level. In a fortnightly review (December 1-15), the federal government has decided to increase the price of HSD by Rs4.00 per litre but kept the prices of petrol, kerosene oil (SKO), and Light Diesel Oil (LDO) unchanged.
The new price of HSD is now Rs105.43 per liter, after an increase by Rs4 per litre from Rs101.43 per litre.
"The government of Pakistan in its endeavor to provide maximum relief to the public products. The prices of petrol, SKO and LDO would remain the same with effect from December 1, 2020 for the next fifteen days, However, due to significant increase in the international price of HSD, the price of HSD has been increase for the same period," the Finance Division issued a statement on Monday.
An official of the Federal Board of Revenue (FBR) told Business Recorder that the increase in price of high speed diesel would generate additional revenue in the form of sales tax to the tune of Rs250-300 million in the first half of December (1-15). The HSD is a major source to generate revenue through petroleum levy along with petrol. The government has increased the rate of ex-refinery price of HSD and petroleum levy, sources said.
The ex-refinery for November -16-30 was fixed at Rs49.72 per litre. The petroleum sector sources said that some oil marketing companies also reduced the prices of HOBC at their selected outlets. Shell Pakistan reduced the price of HOBC from Rs114 per litre to Rs112 per litre.
Copyright Business Recorder, 2020
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