Tag: petrol prices

  • PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    PM Shehbaz rejects OGRA’s proposal, petrol price to remain unchanged till April 30

    Pakistan’s new Prime Minister (PM) Shehbaz Sharif on Friday dismissed the proposal from the Oil and Gas Regulatory Authority (OGRA) to raise the price of petroleum products for the fortnight. The recent decision is aimed at providing relief to the public affected by inflation.

    It is worth noting that the present government’s choice to maintain the same prices will oblige it to provide another substantial subsidy till the end of April 2022.

    Earlier, OGRA suggested to the Finance Division that the price of petrol be increased by Rs21.50 and that of diesel be hiked by Rs51.30 in view of the current petroleum levy and general sales tax (GST).

    Read more: Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    The authority also proposed a hike of Rs83.50 per liter of petrol and Rs119.88 per liter of diesel considering the federal government’s recommended petroleum levy of Rs30 and 17 per cent GST, as per the official statement.

  • Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    Massive hike of Rs83.5 for petrol, Rs119 for diesel proposed by OGRA

    The Oil and Gas Regulatory Authority (OGRA) suggested the federal government elevate fuel prices by up to Rs83.5 per liter for petrol and Rs119 for diesel.

    A summary to the petroleum division was presented by OGRA for the huge increase in petroleum rates to come into effect on April 16 in Pakistan.

    The proposed raise was calculated using a 70 per cent GST rate plus a Rs30 per liter levy. It is worth noting that the current duty on fuel and diesel is Rs30 per liter, plus 17 per cent GST.

    On the basis of complete levy and taxes, the body has recommended raising petrol prices by Rs83.5 per liter, while diesel prices should be raised by Rs119 per liter.

    According to reports, the OGRA proposed raising the petrol price to Rs21.53 per liter in line with the current tax rate, Rs51.3 for diesel, and Rs77.56 for kerosine oil on the grounds of full tax and levy.

    Read more: Gold prices go up by Rs350 per tola to Rs130,300

    Concerning other oil products, a full tax rate and levy hike of Rs77.31 was suggested for light diesel, Rs36.5 for kerosine oil, and Rs38.89 for light diesel. According to sources, the finance ministry would make the final decision on the OGRA summary after briefing Prime Minister Shehbaz Sharif.

  • Oil companies warn govt of fuel shortage in Pakistan

    Oil companies warn govt of fuel shortage in Pakistan

    Oil marketing companies and refineries have reportedly expressed serious concerns and warned of a fuel crisis in the country after the government’s announcement of a relief package, according to Geo News.

    In a meeting between Oil and Gas Regulatory Authority (OGRA) and the petroleum division, several questions have been raised regarding petroleum prices. They argued that how can they sell petroleum products at cheaper prices when they are buying them at an expensive rate from the international market. They asked, “who will pay the price difference?”

    According to the secretary of petroleum, the government is preparing a price adjustment mechanism and the government will pay later. Till then, oil marketing companies and refineries should bear the price difference.

    In response to this, oil marketing companies and refineries said that the situation doesn’t seem to be sustainable as the country can face an interruption in the supply of petroleum products.

    Prime Minister (PM) Imran Khan, in an announcement on Monday, said that the government has slashed petrol, diesel prices by Rs10 per litre and electricity prices by Rs5 per unit as part of a series of measures to bring some relief to the public. He also promised that the government will not increase the prices of these commodities till the next budget, which will be announced in June.

  • ‘Ghaari ki bajaye ghorro pe safar’: Arslan Naseer, Noor Bukhari take a jibe at PM Khan over petrol prices

    ‘Ghaari ki bajaye ghorro pe safar’: Arslan Naseer, Noor Bukhari take a jibe at PM Khan over petrol prices

    The ruling government has increased the price of petrol by Rs12.03/litre, diesel Rs9.53/litre, kerosene Rs10.08/litre and light diesel oil (LDO) by 9.43/litre. The new rates will be effective from today (February 16) and will be revised at the end of the month.

    As per the press release issued by the Government of Pakistan’s Finance Division, the prime minister has considered the recommendation to increase the prices of petroleum products in line with changes in the international oil prices.

    The previous price of petrol was Rs147.83 per litre.

    Actress Noor Bukhari took to her Instagram stories to take a dig on the government due to the increased prices of petrol in the country. She jokingly said that we should start investing on cartwheels.

    The Chupke Chupke star Arslan Naseer also commented on the same.

    Earlier Arsalan took a jibe at PM Imran Khan’s government for his taxation policies especially in regards to Iphone 13.

    He took to his twitter handle to share his stance on the matter.

    Want to buy the new iPhone? Think again because the new Pakistan tax is shocking

    A government source has informed The Current that phones from abroad are now being subjected to 17% sales tax instead of a fixed sales tax. The total tax will also include customs tax.

    Earlier, the fixed sales tax on the iPhone13 Pro max was Rs. 10,000 but if you now calculate a 17 per cent tax on 305068.94 PKR in our case, the tax will be 51,861.7198. The customs tax is Rs 34,000 on the iPhone.

    If you now want to buy an iPhone 13 Pro max in Pakistan, the total tax will be 51,861.7198+34,000=85,861.17 for the high end iPhone.

    If you have a passport on which you came back with the phone, it will cost you a little less, 51,861.7198+26,000=77,861.7198.

    Government sources while talking to The Current said, “If a person can afford a phone worth almost 300k, then he can pay 78k too. These phones have inelastic demands.”

    “Most smartphones sold in Pakistan (more than 80%) and mid category (between $150-200). 70% of these are now made in Pakistan and have very little tax on them. The ones in the range that are imported have a tax of around Rs 5-8k on them,” the source added.

  • ‘Imran Khan the standard you want to set for Bushra Bibi, apply the same for all women’: Maryam Nawaz

    ‘Imran Khan the standard you want to set for Bushra Bibi, apply the same for all women’: Maryam Nawaz

    Pakistan Muslim League-Nawaz (PML-N) Vice President Maryam Nawaz, in a fiery press conference, fiercely criticised Prime Minister (PM) Imran Khan.

    “Yes, your [PM Khan] wife [Bushra Bibi] is of respect to us. The standard you want to set for your wife, the same standards should have been there for the deceased Kalsoom Nawaz [wife of PML-N supremo Nawaz Sharif]. When I used to go to check on my mother from our London apartment to the hospital, three to four Pakistan Tehreek-e-Insaf (PTI) workers used to abuse me. When my son Junaid used to leave, they used to abuse his mother,” said Maryam Nawaz.

    She alleged that some PTI activists had barged into the hospital just to take pictures of an ailing Kulsoom.

    “The standard you set for your wife, apply the same for every woman,” added the PML-N leader.

    “I was innocent and you put me in the death cell. You did the character assassination of a daughter in front of her father. When I was in Gilgit Baltistan and running my political campaign in Azad Jammu and Kashmir, you did not have an answer to my political criticism. So your minister on record hurled below the belt criticism towards me.”

    “I want to request the media to play the footage of the speeches of the PTI ministers where they have made personal attacks against me. Imran Khan Sahib used to praise them for making such comments, clap at them. I too am someone’s daughter. What you have done with Asma Shirazi, Gharidah Farooqi, and Sana Bucha, the country has not forgotten it.”

    “Have the guts to take criticism,” reiterated Maryam.

    Responding to the arrest of journalist Mohsin Baig by the Federal Investigation Agency (FIA), who is accused of initiating a debate on a television show with obscene references towards PM Imran Khan and Minister for Communication Murad Saeed, Maryam said, ” When Mohsin Saab was with you [Imran Khan], helped you with your political matters, at that time he was very nice. And now that he is criticising you, you should have had the guts to take the criticism. You used FIA against him. I feel sorry for your mental condition Imran Khan Saab.”

    “People are cursing you for the price hike and increase in the petrol prices,” said Maryam, adding, “People don’t have fuel. The people of Pakistan do not travel on government-provided vehicles.”

    “I agree that you [PM Khan] are not eligible, and do not have the qualification but I wish you had a heart which was kind. You have used the hard-earned money of the people of Pakistan just to settle your score with your opponents,” said the PML-N leader.

    “You have made FIA, National Accountability Bureau (NAB) a part of your politics to settle scores with your opponents. Despite the fact that you are a liar and fake, you are sitting on the seat of a prime minister of the country, you should have spent all your time serving the people of Pakistan, instead you utilised all your energy to take revenge on the Opposition,” said Maryam.

    Talking to reporters after appearing at the Islamabad High Court in the Avenfield Apartments case, Maryam was asked if Shehbaz Sharif would resign as PML-N president if the “no-confidence gamble” failed.

    Maryam responded that she was hopeful of the move’s success “because Imran is on his last legs and it’s a risk that should be taken”, adding that the messages sent by her party to disgruntled lawmakers were also applicable to the PML-N itself.

    She did not elaborate on who she was referring to as “disgruntled” lawmakers or what messages were sent to them.

    “If the opposition does not take a united stand here then we will be blamed for it. It’s ultimately the public that we have to go back to at the time of elections.”

    Responding to a question on whether she supported another extension for the army chief, Maryam said “it’s a premature question and we don’t have any details before us”.

  • Petrol price likely to go up by Rs13 today, price at Rs160 per litre

    Petrol price likely to go up by Rs13 today, price at Rs160 per litre

    Petroleum prices are expected to increase across Pakistan from today (Tuesday) in the wake of Russia-Ukraine hostilities, reports Geo News.

    The price of petrol and fuel are likely to increase by Rs13 per litre and diesel by Rs18 per litre. The current price of petrol is Rs147.83 per litre, the price of High-Speed Diesel (HSD) stands at Rs144.62 and Light Diesel Oil (LDO) at Rs114.54 per litre.

    According to Reuters, oil prices jumped to a seven-year high on Monday when the United States (US) warned that Russia could soon invade Ukraine.

    Russia is one of the world’s largest oil and gas producers, and fear that Russia could invade Ukraine has driven the rally in oil closer to $100 per barrel, a level not seen since 2014.

    However, no official notification by the government has been released yet.

    Last month, Prime Minister (PM) Imran Khan rejected the summary of increasing prices of petroleum products in the public interest.

  • Petrol, diesel prices set to increase again by Rs10 in February

    Petrol, diesel prices set to increase again by Rs10 in February

    The government is likely to increase the prices of petroleum products by Rs10 for the next month in line with the rising rates in the international market, according to Geo News’ sources.

    The price of petrol will move up by Rs7 per litre while the rate of diesel will increase by Rs10 per litre. The existing price of petrol is Rs147.83 and diesel costs around Rs144.

    However, the official announcement is yet to be made but as per the news outlet, the final decision will be made on January 30.

    Previously, an increase of Rs3 in petroleum products was implemented on January 16.

    Despite growing inflation in the country, for the ease of public, the government has planned to launch Ehsaas Petrol Cards for motorcyclists to enable them to buy petrol at a subsidised rate.

  • Electricity prices increase by Rs 4.30, petrol by Rs.6

    Electricity prices increase by Rs 4.30, petrol by Rs.6

    The National Electric Power Regulatory Authority (NEPRA) has approved the decision to increase power tariff by Rs4.30 per unit on account of fuel cost adjustment (FCA) for November 2021.

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    The adjustment will be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of November 2021 by the XWDISCOs.

    Similarly, the government is likely to increase the prices of petroleum prices by Rs6 per litre this month. However, the Ministry of Finance is yet to make the final announcement, reports Geo News.

    It is reported that the implementation will be effective from January 16 after consultations with Prime Minister (PM) Imran Khan. Recently, the government on the New Year’s eve had increased the prices of petroleum products to meet the petroleum levy target agreed with the International Monetary Fund (IMF).

    The news came after PM Khan’s statement when he asked his party’s spokespersons to inform the masses that there is no inflation in the country.

  • ‘Only way to end inflation is to oust Imran Khan’: Bilawal Bhutto

    ‘Only way to end inflation is to oust Imran Khan’: Bilawal Bhutto

    Pakistan People’s Party (PPP) Chairperson Bilawal Bhutto-Zardari said that the increase in prices of petroleum products is Prime Minister (PM) Imran Khan’s new year’s gift to the citizens and the only way to end inflation is to oust the premier himself.

    In a series of tweets shared by the PPP official Twitter handle, Bilawal said, “Imran Khan claimed that 2021 would be the year of prosperity, but 2022 has arrived, where have the claims gone.”

    The PPP leader’s statement comes after the government announced an Rs4 increase in petrol price.

    He stated that the country witnessed higher inflation than a year prior during Pakistan Tehreek-e-Insaf’s (PTI) tenure, but they continue to blame previous governments labelling them as incompetent.

    Bilawal claimed that the PPP faced the worst economic crisis in the world’s history but did not let the citizens bear the brunt of the inflation.

    He urged the federal government to reduce the rates of petroleum products in line with international prices.

    The PPP chairperson stated that the only way to end inflation is to “oust Imran Khan.”

  • Petrol price goes up by Rs4 per litre

    Petrol price goes up by Rs4 per litre

    The government on Friday increased the prices of petroleum products by Rs4 per litre. The price of petrol has reached to Rs144.82 and diesel Rs141.62 per litre. The increase has been announced to meet the petroleum levy target agreed with the International Monetary Fund (IMF). The increase in petrol prices will come into effect from January 1 (today).

    Pakistan Peoples Party (PPP) Chairperson Bilawal Bhutto Zardari has reacted to the news of increase in petrol prices. “Imran Khan given new year gift to public by increasing the price of petrol,” the PPP chairman said in a statement.

    “Imran Khan claimed that 2021 would be the year of prosperity, but 2022 has arrived, where have the claims gone.”