ISLAMABAD: Prime Minister Imran Khan, Monday, decided not to increase the prices of petroleum products till November 30th under political pressure from parliamentarians and the public at large.

The prime minister rejected a summary sent by the Oil and Gas Regulatory Authority (OGRA) recommending a hike in the price of petroleum products for the remaining days of November.

The regulatory authority had proposed Rs5 per litre increase in the petrol and High Speed Diesel (HSD) price.

Following the prime minister’s decision, the petrol price to remain unchanged at Rs145.82 per litre and that the price of diesel will remain Rs142.62 per litre.

The prices of kerosene oil and light diesel oil also remained unchanged at Rs116.53 per litre and Rs114.07 per litre respectively.

POL products’ prices increased

On November 5, the government increased petroleum prices to an all-time high with the prime minister claiming that the petroleum prices in Pakistan are the cheapest among oil-importing countries.

Addressing a public gathering in Attock on November 5, he said that the prices were at low level in the country as the government had slashed taxes and levies on it.

Finance Division has adjusted the rates of general sale tax (GST) on petroleum products, however, the petroleum levy (PL) has been kept at the same level at November 5, 2021.

The government has abolished the GST on petrol which was 1.43 percent or Rs 2.06 per litre till November 15.

The GST on HSD has increased to 7.20 percent from 6.75 percent. On SKO the rate of GST also revised upward from 6.70 percent to 8.19 percent and 0.20 percent to 0.40 percent on LDO.

The rate of PL on petrol is Rs 9.62 per litre, Rs 9.14 on HSD, Rs 2.06 per litre on Kerosene Oil and no PL on Light Diesel Oil (LDO).

Copyright Business Recorder, 2021