OGRA proposes Rs83.50 per litre price hike in petrol: sources

[maithil]

The price of petrol is set to cross Rs200 per litre for the first time in history as the new government may pass on the burden of the PTI government’s wrong decisions to the public, Geo News reported, citing sources.

In the second fortnight of the current month starting April 16, the newly formed government would be required to either jack up the price of petroleum products or enhance subsidies to maintain the existing price.

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 sources, if the coalition government chooses to increase the price, the per-litre petrol cost will jump by Rs83.50 — if they decide to increase the levy and GST.

It is worth mentioning that the new government would be in a critical situation and might choose not to increase prices in a bid to win over public support. However, if the current government decides to keep the prices unchanged, then it will be forced to give another hefty amount in subsidy from April 16 to 30.

According to sources, the Oil and Gas Regulatory Authority (OGRA) had submitted a proposal in this regard to the petroleum division, which includes working on petroleum levy and general sales tax (GST).

Sources said that the proposal of an increase of Rs83.50 per litre petrol and Rs119 per litre diesel has been submitted which includes a Rs30 levy and 17% GST.

However, with the existing tax and levy, the authorities have proposed the Finance Division increase the petrol price by Rs21.52 per litre and Rs51.30 per litre diesel.

For kerosene oil Rs35.5 per litre and Rs38.89 per litre light-diesel increases have been proposed on the current tax rate. While with higher levy and GST a hike of Rs77.56 per litre of kerosene oil and Rs77.31 per litre of light diesel has been proposed.

The sources, however, mentioned that a final decision in this regard will be taken by the Finance Division after consultation with Prime Minister Shehbaz Sharif.

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. Sources mentioned that working has been done without including 17% GST and Rs30 levy.

OGRA proposes Rs83.50 per litre price hike in petrol: sources

ISLAMABAD: The price of petrol is set to cross Rs200 per litre for the first time in history.In the second fortnight of the current month starting April 16, the newly formed government would be required to either jack up the price of...

www.geo.tv

https://twitter.com/x/status/1514692891293413378

 

[INS_Vikrant]

Pakistan opposition/establishment really chose a bad time for this no confidence drama. Now they will face the burnt of effects of having to reduce subsidies/ inflation/ oil price rise etc brought on by war and pandemic. Had they let IK deal with these mess for 2 years they could have made strong comeback electorally due to strong anti incumbency. Now not only will they be facing ire of voters of these issues they also ended up making IK way too popular. Pretty incompetent noob and short sighted politics played by them.

 

[Maula Jatt]

Don't want to be in place of this current government
This is a very tough decision but it needs to be done

 

[maithil]

Govt can always reject this recommendation. And continue with providing subsidies. Any price hike will result in higher inflation.

Pakistan opposition/establishment really chose a bad time for this no confidence drama. Now they will face the burnt of effects of having to reduce subsidies/ inflation/ oil price rise etc brought on by war and pandemic. Had they let IK deal with these mess for 2 years they could have made strong comeback electorally due to strong anti incumbency. Now not only will they be facing ire of voters of these issues they also ended up making IK way too popular. Pretty incompetent noob politics played by them.

Maybe that was the plan from beginning. Install opposition to discredit them ?

 

[313ghazi]

I wasn't in favour of a subsidy then and I'm not in favour of a subsidy now.

However all taxes and levies on fuel should remain at zero to pass on maximum possible relief to awam.

 

[SQ8]

Just long pending pain that could have been delivered over 20 years or 2.

 

[Maula Jatt]

I hope we stop being partisans on core national issues

Hope insafians are more understanding if current government decides to end this subsidy - since it was a bad decision on PTI part

 

[Patriot forever]

Just long pending pain that could have been delivered over 20 years or 2.

This is nothing compared to the pain and sacrifice pti went through due to the necessary economic decisions it took.

The brunt of pending inflation due to currency transition to a more market based regime was faced by pti. Not to mention the corona period ( the best managed economy during this period in the region) or the peak of global inflationary cycle soon afterwards. Even in this situation it created the most jobs by a decent margin coupled with decent macros and growth.

PTI setup a platform and before the rewards were fully mature it was kicked out of power through coup. It did in 3 1/2 years and undertook reforms that were not taken in a decade.

 

[Chak Bamu]

PTI's petrol price subsidy was a populist measure, taken not because their term was approaching its end, but because they knew VoNC was on its way. This measure was taken a while back with last price increase being 2 months ago. So much for a sudden Amreeki Saazish.

 

[Patriot forever]

I hope we stop being partisans on core national issues
View attachment 834540
Hope insafians are more understanding if current government decides to end this subsidy - since it was a bad decision on PTI part

No we will not be. Did you happen to read that rented bitch tweets when pti had to do it.

Did you even know there was a subsidy much greater than this on every item when pti took over due to artificially manipulated currency alone.

This is barely peanuts compared to what pti faced.

The increase will be just 15 - 20 Rs.

Do you know the details how intricately pti managed that subsidy before passing on judgment?

Stop being a shill.

 

[Maula Jatt]

No we will not be. Did you happen to read that rented bitch tweets when pti had to do it.

Did you even know there was a subsidy much greater than this on every item when pti took over due to artificially manipulated currency alone.

This is barely peanuts compared to what pti faced.

The increase will be just 15 - 20 Rs.

Do you know the details how intricately pti managed that subsidy before passing on judgment?

Stop being a shill.

Why did I post it than? What's the point?
Why would anyone post gareeda faqrooqi tweets couple months apart in a single frame?

It was literally to point out the hypocrisy in the first place , but you decided to go off...
I have criticized currency consumption subsidizies of PMLn literally gazillion times already- forget that check posting history
Did it just an hour ago

its better to not get hyper everytime if something looks off or not to your political taste but please try to understand the post before reacting

 

[Patriot forever]

PTI's petrol price subsidy was a populist measure, taken not because their term was approaching its end, but because they knew VoNC was on its way. This measure was taken a while back with last price increase being 2 months ago. So much for a sudden Amreeki Saazish.

The artificial manipulated currency was not a populist measure?

You criticise this minor subsidy by pti, there was a much much bigger subsidy on each and every item when pti took over.

It faced 4 years of backlog of inflation in its initial 2 years which was artificially managed while compromising macros as a populist measure.

Your posts on economy are just jokes.

 

[graphican]

It's the same game which Pathans do in bargains. They tell you the hair clip was for $200 but end up selling at $20, and you feel happy that you saved $180 but reality is you've paid twice more than you would have otherwise.

Now OGRA will take the curse of proposing 83.50 and Khadam-e-Eala will step in cutting the price hike by 60% and only adding 35 rupees instead and thus Shoe-baz will become an automatic hero.

 

[Areesh]

I hope we stop being partisans on core national issues
View attachment 834540
Hope insafians are more understanding if current government decides to end this subsidy - since it was a bad decision on PTI part

PTI nai theka nahi uthaya hua naiki ka is mulk main

I hope PTI milk this topic to the fullest once the prices are increased

Do politics on it. Bash government. Make people angry

 

[Maula Jatt]

PTI nai theka nahi uthaya hua naiki ka is mulk main

I hope PTI milk this topic to the fullest once the prices are increased

Do politics on it. Bash government. Make people angry

Mulk ka kon soche ga phir?