Cut in POL prices approved

[VCheng]

So this is a tangible benefit from the manufactured appreciation of the PKR for the public, and it is to be lauded:


Cut in POL prices approved | BUSINESS - geo.tv

ISLAMABAD: The Ministry of Finance has given approval of the summery for cut in petroleum product prices, Geo News reported.

The new price would be effective from May 01.

Sources told Geo News the ministry approved Rs0.34 decrease in the per litre price of petrol, Rs4.51 in diesel and Rs3.08 of kerosene oil, light diesel Rs0.93 and HOBC Rs1.94.

Following cut in the prices, the new price of petrol will be Rs107.97 per litre, diesel Rs109.34, kerosene oil Rs98.07, light diesel Rs94.13 and HOBC Rs134.63.

 

[arushbhai]

Wrong place to make a this thread. On this forum, even if the govt decides to hand out gas for FREE, we will still have trolls accusing the govt for making some kind of a secret deal to sell Pakistan in return for free gas. The trolls here are controlled by Zani khan. If he comes a PM, everything will somehow become acceptable again, even if the gas price goes up to 1000Rs per liter.

 

[VCheng]

Wrong place to make a this thread. On this forum, even if the govt decides to hand out gas for FREE, we will still have trolls accusing the govt for making some kind of a secret deal to sell Pakistan in return for free gas. The trolls here are controlled by Zani khan. If he comes a PM, everything will somehow become acceptable again, even if the gas price goes up to 1000Rs per liter.

It is never wrong to give credit where credit is due.

I am against the manufactured appreciation of the PKR, but I can also appreciate the fact that government has been able to pass on some of the benefits while it can to the people, with this price cut.

Fair is fair.

 

[Black Eagle 90]

So this is a tangible benefit from the manufactured appreciation of the PKR for the public, and it is to be lauded:


Cut in POL prices approved | BUSINESS - geo.tv

ISLAMABAD: The Ministry of Finance has given approval of the summery for cut in petroleum product prices, Geo News reported.

The new price would be effective from May 01.

Sources told Geo News the ministry approved Rs0.34 decrease in the per litre price of petrol, Rs4.51 in diesel and Rs3.08 of kerosene oil, light diesel Rs0.93 and HOBC Rs1.94.

Following cut in the prices, the new price of petrol will be Rs107.97 per litre, diesel Rs109.34, kerosene oil Rs98.07, light diesel Rs94.13 and HOBC Rs134.63.

Pakistan should brings in GCC investment in Pakistan for Oil, Gas, Coal and Mineral development on Land & Sea.

 

[VCheng]

Pakistan should brings in GCC investment in Pakistan for Oil, Gas, Coal and Mineral development on Land & Sea.

Investment always goes where there is a good return with reduced risk. Does Pakistan offer that?

 

[Leader]

It is never wrong to give credit where credit is due.

I am against the manufactured appreciation of the PKR, but I can also appreciate the fact that government has been able to pass on some of the benefits while it can to the people, with this price cut.

Fair is fair.

34 paisa cut on regular petrol.

your sarcasm is well noted Sire !

 

[VCheng]

34 paisa cut on regular petrol.

your sarcasm is well noted Sire !

The reduction in diesel prices is more substantial.

 

[Leader]

The reduction in diesel prices is more substantial.

wont effect the good-prices..

 

[VCheng]

wont effect the good-prices..

Probably not, I agree.

 

[Hyde]

When I left Pakistan, the price of petrol was slightly above 113. Now somebody told me it's in the range of 108.

The price of Crude Oil has remained intact in last few months (close to 99 dollars per barrel) so it is in direct response to the Rupee appreciation. I think Rupee has found a stable value of 98/99 and it's going to remain at that price for the next couple of months. I think it's no longer artificial price as we are on the verge of receiving loans/payments and when we receive loans, the reserves are increased and provides stability to the local currency.

So yes first time in many years I see the Rupee floating around 97-102 for the next few months due to natural reasons. After that it's gonnai sky rocket once again unless we post really good growth rate or the bad news coming from the US economy or we go for another loan

 

[VCheng]

When I left Pakistan, the price of petrol was slightly above 113. Now somebody told me it's in the range of 108.

The price of Crude Oil has remained intact in last few months (close to 99 dollars per barrel) so it is in direct response to the Rupee appreciation. I think Rupee has found a stable value of 98/99 and it's going to remain at that price for the next couple of months. I think it's no longer artificial price as we are on the verge of receiving loans/payments and when we receive loans, the reserves are increased and provides stability to the local currency.

So yes first time in many years I see the Rupee floating around 97-102 for the next few months due to natural reasons. After that it's gonnai sky rocket once again unless we post really good growth rate or the bad news coming from the US economy or we go for another loan

The overall trend will remain a 10% decline in PKR value per year, averaged over several years, given the basic imbalances.