Pakistan

PM spurns Ogra recommendation of POL prices hike

Islamabad: The government on Friday rejecting Ogra’s recommendation of increasing POL product prices decides to retain rates of fuel products.

Published 4 years ago on May 1st 2021, 9:25 am

By Web Desk

Dr Shahbaz Gill Special Assistant to Prime Minister said on Twitter that Prime Minister Imran Khan had decided that the price of petroleum products would not be increased however Ogra summary recommended an increase of Rs 5 to 10. The Prime Minister rejected it and decided to maintain the April 16 prices.

وزیراعظم عمران خان نے فیصلہ کیا ہے کہ پٹرولیم مصنوعات کی قیمت نہیں بڑھائی جائے گی۔ اوگرا کی سمری میں 5 سے 10 روپے اضافے کی سفارش کی گئی تھی۔ وزیراعظم نے اسے نامنظور کر کے 16 اپریل کی قیمتیں برقرار رکھنے کا فیصلہ کیا۔

اوگرا کی سفارش کردہ قیمتیں لف ہیں۔ جو منظور نہیں کی گئیں pic.twitter.com/ngCNpmQ7Yf
— Dr. Shahbaz GiLL (@SHABAZGIL) April 30, 2021

Earlier, Oil & Gas Regulatory Authority (OGRA) has issued a notification to reduce the LPG price by Rs12.39 per kg.

According to the notification, the new price of LPG is fixed at Rs133.25 per kg while in April, the price of LPG was Rs145.64 per kg. After the decrease, the 11.8 kg LPG domestic cylinder became cheaper by Rs146.19.

The new prices will apply to May 2021.

The notification further stated that the new price of a domestic LPG cylinder is fixed at Rs1,572.40, while in April, the price of a domestic LPG cylinder was Rs1,718.59.

It may be recalled that a month ago, the LPG price was reduced by Rs14.9 per kg.

In the other move, OGRA had also sent a summary to increase petroleum products prices to the Petroleum Division, according to which it has been proposed to increase the price of petrol by Rs5.75 per litre and diesel by Rs 6per litre.

Sources claimed that the proposed prices of petrol and diesel have been fixed at the rate of the current petroleum levy, the current levy on petrol is Rs11.23 per litre and on diesel Rs15.29 per litre while the final decision on prices is final.

However, the final decision on prices was taken by the Finance Ministry in consultation with the Prime Minister.

On March 31, Finance Minister Hammad Azhar announced Rs. 1.50 per litre cut in the price of petrol while Rs. 3 per litre decrease in that of diesel.

The current levy on petrol is Rs 17.97 per litre while the current levy on diesel is Rs 18.36 per litre.

Earlier on April 1, the government also reduced the price of diesel and petrol by Rs3 and Rs1.5 respectively.

On January 15, OGRA had proposed to increase petroleum rates by Rs13 per litre but PM had approved Rs3.20 increase in prices.