OGRA advised to increase petrol price by Rs83.50, Sources
ISLAMABAD: OGRA has proposed to increase the price of petrol up to Rs83.50 per liter with reference to the change in prices of petroleum products from April 16.
Sources said that the Oil and Gas Regulatory Authority (OGRA) has sent price proposals based on tax and levy rates.
According to sources, OGRA has forwarded working of increase in prices of petroleum products to the petroleum division. Working of petroleum products has also been done at the rate of General Sales Tax (GST) and levy.
Levy and GST on all petroleum products is zero at present. Working was done without removing 17% GST and Rs30 per liter levy, Sources.
According to sources, it has been proposed to increase the price of high speed diesel by Rs51.30 per liter at the current tax rate only. At the current tax rate, it has been proposed to increase the price of petrol by Rs21.53 per liter.
It is proposed to increase the price of kerosene by Rs.36.5 per liter on tax rate while the price of light diesel oil has been proposed to be increased by Rs38.89 per liter.
Sources said that OGRA has also proposed to increase the prices of petroleum products along with full levy and GST.
Levy on petrol and diesel has been proposed to be kept at Rs30 and GST at 17% and by including these two, it has been proposed to increase the price of high speed diesel by Rs119 per liter, Sources reported.
According to sources, along with full levy and taxes, it has been proposed to increase the price of petrol by Rs83.50 per liter while the price of kerosene has been proposed to increase by Rs77.56 per liter and light diesel by Rs77.31 per liter.
Sources reported that the final decision on the prices of petroleum products would be taken by the Ministry of Finance in consultation with the Prime Minister. The new prices of petroleum products are to be implemented from April 16.
It may be recalled that former Prime Minister Imran Khan had announced on February 22 before ouster that the prices of petroleum products would not be increased till the next budget.
