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Petroleum prices likely to fall

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Islamabad: OGRA has sent a summary to the federal government to maintain the current prices. But because of the current political situation, the prices of petroleum products are likely to decrease slightly.

The Oil and Gas Regulatory Authority has sent a summary of changes in the prices of petroleum products to the Petroleum Division in the wake of global oil prices, which will be sent to the Finance Ministry today (Thursday).

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 The summary sent to the Petroleum Division by OGRA has recommended that the prices of products be kept at the current level from October 16.

However, due to the current political situation and public reaction, the government there may be some reduction in prices for which the petroleum levy can be reduced. 

 

 The final decision in this regard will be taken today in consultation with the Finance Ministry and with the approval of the Prime Minister.

Sources said that the government is currently levying a petroleum levy of Rs 30 per liter on diesel, Rs. 27.32 per liter on petrol and Rs 11.43 per liter on kerosene.

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 If the government has to provide relief to the people, the rate of levy, However, the final decision on the prices of  products will be taken by the Ministry of Finance in consultation and approval of the Prime Minister.

Imran government’s will has a keen concern on the public reaction after increment and also Pakistan’s democratic Alliance pressure worked for the common man of Pakistan to bring down the prices.

 

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