Connect with us

Latest News

PM Shehbaz Sharif rejects proposal to hike petrol price

Published

3 years ago

on

  • PM Shehbaz says govt will bear burden of hike in prices of petroleum products itself.
  • Decision was announced through PML-N economy on Twitter.
  • Earlier, OGRA had sent a proposal to Finance Division to increase price of petrol by Rs21.50.

Prime Minister Shehbaz Sharif has rejected the Oil and Gas Regulatory Authority’s (OGRA) proposal to hike the prices of petroleum products in the country.

The decision was announced through PML-N’s economy account on Twitter.

There will be no change in the price of petroleum products as of now, adding that the premier has maintained that the government will bear the burden of the hike in the prices of petroleum products itself instead of shifting it to the masses, sources had told Geo News.

Earlier, the OGRA had sent a proposal to the Finance Division to increase the price of petrol by Rs21.50 and diesel by Rs51.30 (based on existing/current petroleum levy and GST).

On February 28, former prime minister Imran Khan announced a reduction of Rs10 per litre in petrol and diesel prices and a price freeze till the announcement of the budget for 2022-23.

According to the proposal, the OGRA had suggested an increase of Rs83.50 per litre of petrol and Rs119.88 per litre of diesel (based on the federal government’s advised petroleum levy of Rs30 and 17% GST).

It is worth mentioning that currently, the petrol price in Pakistan is Rs149.86 while diesel is available at Rs144.15, with zero per cent levy and GST. 

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

Published

6 days ago

on

By

To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

Continue Reading

Latest News

Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

Published

6 days ago

on

By

Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

Continue Reading

Latest News

GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

Published

6 days ago

on

By

25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

Continue Reading

Trending