In a recent media report, it has been revealed that the prices of fuel are likely to go up once again for the second time within a month’s time. The Oil and Gas Regulatory Authority (OGRA) has reportedly shared a summary with the government which suggests an increase of Rs. 12 per liter in the price of petrol and an increase of Rs. 10 per liter in the price of High-Speed Diesel (HSD).
The report adds that the Ministry of Finance headed by Dr. Abdul Hafeez Shaikh, under the consultancy of Prime Minister Imran Khan, will issue the final decision regarding the matter after having reviewed the summary in detail.
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A couple of days ago, another media report revealed that the government will further increase the prices of petrol by Rs. 1.03 to Rs. 110.23 per liter and high-speed diesel (HSD) by Rs. 0.95 per liter to Rs. 114.14 per liter. The report added that the Petroleum Division shared a summary of the development of the Economic Coordination Committee (ECC).
The report also added that the basis of the price hike was the Oil Marketing Companies (OMCs) asking for an increase in the profit margins and the dealers asking for an increase in their commissions.
In the latest development, OGRA has reportedly prepared the summary based on the levy of Rs. 30 per liter. It bears mentioning, however, that the current levy on petrol is Rs. 21.56 per liter and Rs. 23.9 per liter on HSD.
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The report also states that the government may soften the blow of the price increase proposed by OGRA to a minor degree by not raising the levy or it can keep the ongoing prices of petroleum products by marginally reducing the levy.
As per the report, the new prices are most likely to take effect from February 1, 2021.
Khair say naya Lahore bananey ja raha hy lgta hy kharcha awaam say niklyn gy. Pta ni kab wo waqt aye ga k is mulk k ghareebon ko diya jaey ga is mulk k chor ameeron sy ly kar. Filhal tu Baychar ghareeb hi in chor ameeron ko paal raha hy. Afsos sad afsos