The authority has sent the summary to the Petroleum Division for increase in POL prices.
ISLAMABAD: (UrduPoint/Pakistan Point News-April 15th, 2022) The Oil and Gas Regulatory Authority (OGRA) has sent a summary to the Federal government, suggesting massive hike in fuel prices up to Rs 83.5 per litre on petrol and Rs119 on diesel.
The OGRA has moved this summary to the Petroleum Division for making a massive hike in fuel prices in Pakistan from April 16.
According to the sources, the suggested hike was made on the basis of the 70 per cent of GST and Rs30 per litre levy. The prevalent levy stands at Rs30 per litre and 17 per cent of GST for petrol and diesel. The authority has recommended enforcing a Rs83.5 per litre hike on petrol on the basis of full levy and taxes, whereas, it was recommended to jack up Rs119 per litre on diesel.
The OGRA has suggested increasing the petrol price up to Rs21.53 per litre in accordance with the prevalent tax rate, Rs51.3 on diesel, whereas, a Rs77.56 hike was proposed on kerosine oil on the basis of full tax and levy.
For other petroleum products, a Rs77.31 hike was proposed for light diesel, Rs36.5 on kerosine oil and Rs38.89 on light diesel at the full tax rate and levy.
They said that the final decision on the OGRA summary would be taken by the finance ministry after consulting Prime Minister Shehbaz Sharif.
Hammad Azhar, former energy minister and the current focal person for economy of Pakistan Tehreek-e-Insaf (PTI), said in a Twitter message, “At prevalent taxes the rate increase OGRA has asked for is Rs 21/litre in Petrol and Rs 51/litre in Diesel. This is the differential that PTI govt was subsidising effectively to provide relief to the masses.”
“OGRA always depicts two options in its proposal; one with full taxes & one with prevalent. Media picked the figure with full taxes scenario,” Azhar added.
“We hope that the complete price differential mechanism built by us to provide relief to the masses will not be disturbed by imported govt,” he stated.
