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Pakistan authorizes a petroleum price spike days

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Pakistan authorizes a petroleum price spike days

Petrol Rs 145.8 per liter, diesel price. The price of kerosene is Rs. 142.6. 116.5 per liter and the price of light diesel. 114 per liter.
Pakistan’s finance ministry announced a new hike in petrol prices early Friday, in a move by the Pakistan Tehreek-e-Insaf (PTI) -led government to deny Prime Minister Imran Khan a November price hike. People after less than a week. ”
The new pricing would have been much higher if the government had followed OGRA’s proposal, according to a notice sent by the Finance Division around 1:30 a.m., stating that the government had increased the sales tax The burden is lifted. And fuel levy, “despite the fact that petroleum prices were” slightly “increased.
“This has affected the petroleum levy budget of Rs. Rs. 202 billion as compared to Rs. 152.5 billion between July and September 2021,” he continued, claiming that the government was committed to offering assistance to consumers. Aware of responsibility.

According to the announcement, the new petrol prices will come into effect immediately and will remain in force for the next two weeks. It claims that the price of petrol has been increased by Rs 1.50 paise. 8.03, pushing them to a new high of the rupee. 145.82 per liter, up from Rs. 137.79. Similarly, the prices of high speed diesel have been increased by Rs 1.50 paise. 8.14, from Rs. 142.62 per liter, up from Rs. 134.48.

Kerosene prices have risen by Rs. 6.27 per liter, from Rs. 110.26 to Rs. 116.53 per liter while the prices of light diesel oil have been increased by Rs. 1.50 per liter. 5.72 per liter, from Rs. 108.35 to Rs. 114.07 / liter

Prices of all petroleum products exceeded Rs. For the first time in the history of Pakistan, 110 per liter.

The Prime Minister’s Office issued a statement on November 1 stating that the Prime Minister had rejected OGRA’s plan to “provide relief to the people” by raising petrol prices in November. According to the report, the administration chose to prioritize “relief” over “the effects of global inflationary pressures”. This generosity was short-lived.

In a speech broadcast nationally on November 3, barely three days after the first announcement, Prime Minister Imran Khan announced that the government would increase petrol prices “soon” as keeping them at current levels would contribute to the country’s financial imbalance. Will increase The administration acted on his warning on Friday morning.

Observers believe the recent rise in prices is linked to the resumption of the International Monetary Fund’s 6 6 billion expansion fund facility, which was halted. Shaukat Tareen, the prime minister’s adviser on finance, said earlier this week that the government had no choice but to increase petrol prices because international lenders would not allow it to subsidize commodities for the general public.

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