Govt decide petrol prices to stay unchanged

ISLAMABAD:-The prices of petrol and diesel across the country will stay unchanged for the next 15 days. The commodity costs Rs137.79 right now.

The development comes after Prime Minister Imran Khan rejected the Oil and Gas Regulatory Authority’s summary to increase petrol prices by another Rs11.53 per litre from November 1.

It had recommended an increase of Rs8.49 per litre in the price of high-speed diesel. A Rs6.29 and Rs5.72 per litre increase was also suggested in the prices of kerosene oil and light-speed diesel, respectively.

According to a statement issued by the Prime Minister’s Office, the PM has maintained that the burden of rising fuel prices in the international market would not be laid on the people. “We have prioritised providing relief to the citizens.”

Experts have, on the other hand, said that in the last few days the prices of crude oil in the international market and the rate of the dollar in the local market have fallen. Under these circumstances, an increase in petrol prices is not justified.

On October 16, the government increased petrol prices by Rs10.49. High-Speed Diesel price was increased by Rs12.49 per liter.

The government’s move was criticised by the people and opposition alike. Protests sparked in a number of cities across the country. The opposition alliance, Pakistan Democratic Movement, too, announced demonstrations.

 Consequently, Prime Minister Imran Khan instructed the energy and power ministry to devise a subsidy plan for people from the lower-income groups.

Earlier this week, Energy Minister Hammad Azhar said the government was under pressure to give up taxes on petroleum products. It had, initially, set a target to collect revenue of Rs610 billion through petroleum levy but only managed to collect about Rs50bn in the first four months.