Business
Hike in petroleum prices challenged in LHC
Lahore: A writ petition has been filed in Lahore High Court (LHC) on Monday, challenging the recent increase in prices of petroleum products.
According to details, the Judicial Activism Panel has moved the petition requesting court to declare government's verdict of hiking fuel prices as illegal.
"More burden has been put on common man who is already stressed from rising inflation," the petition stated.
The Federal government has increased the price of petrol by Rs. 2.70, bringing the per liter cost to Rs. 111.90 paisas. High speed diesel has been raised by Rs. 2.88, bringing the new per liter price to Rs. 116.7. The price of light diesel has been raised Rs. 03, causing the new price to be Rs. 79.23 and with Rs. 3.54 hike in the price of kerosene oil, the new sale price is Rs. 80.19.
As per Federal government, the new prices will be applicable from midnight, February 1.
Earlier in the week, Oil and Gas Regulatory Authority (OGRA) had sent in a summary recommending that petrol prices be raised by Rs. 12 while also recommending a Rs. 10 price hike in diesel. The recommendations had been sent in on the basis of Rs. 30 per liter levy.
On January 15, the federal government had raised petrol prices by Rs. 3.20. At the end of the previous year, Rs. 2.31 was authorized, making the recent hike the third one within a month.