Sources said that the finance ministry may oppose Ogra’s proposal as its priority is increased revenue collection. CREATIVE COMMONS
Consumers are likely to face consecutive hikes in oil prices which are likely to go up by Rs4.71 per litre effective from September 1, following fluctuations in global oil prices.
The government had raised oil prices by Rs4.99 per litre for the ongoing month of August.
However, in a summary moved by the Oil and Gas Regulatory Authority (Ogra) to petroleum and finance ministries on Friday, Ogra proposed not to pass on the increase in oil prices by adjusting the rate of Petroleum Levy (PL) on petroleum products to provide relief to the consumers. Officials said that consumers would be facing an increase in inflation if the government raised oil prices for next month of September.
Sources said that the finance ministry may oppose Ogra’s proposal as its priority is increased revenue collection. However, the final decision will be taken by the prime minister.
The federal government will send a notification about new prices today (Saturday) after approval by Prime Minister Nawaz Sharif.
According to a summary, the consumers of High Speed Diesel (HSD), which is used mostly in the transport and agriculture sectors, may face an increase of Rs3.57 per litre, which will bring its price up to Rs113.33 from the existing R109.76 per litre.
The price of petrol may go up to Rs4.64 per litre from the current Rs104.50 to Rs109.14 per litre.
Kerosene oil, which is used for cooking purposes in remote areas where Liquefied Petroleum Gas (LPG) is not readily available, may witness a hike of Rs4.71 per litre, bringing its price up to Rs105.99 per litre from the current Rs101.28.
The price of Light Diesel Oil (LDO), which is used mainly for industrial purposes, may witness an increase to the tune of Rs2.31 per litre, bringing the price to Rs98.43per litre from the current price of Rs96.12.
The price of High Octane Blending Component (HOBC), used mainly in luxury cars, may increase by Rs5.89 per litre, to Rs138.33 per litre, from the existing Rs132.44.
The price of JP-1 may witness a hike of Rs10, JP-4 Rs4.12 and JP-8 Rs4.40 per litre bringing prices to Rs 99.88, 86.46 and Rs 93.95 per litre respectively.
Published in The Express Tribune, August 31st, 2013.
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Rise up to or rise up by? Correct the title ET team
After the PPP PM and the cabinet resigned it has been only a few months but the prices of energy are going sky high. At the same time the value of Pakistani Rs is sliding faster than at any time in the recent past. Welcome to the promise land of new Pakistan of business savy NS.
this is the Real CHANGE in few months !!!! which was discussed during the Election campaign by leader of rolling party ,let,s see....
Sell Hi Octane to the elite for Rs.1000 per liter. Subsidize the rest.
Pakistan awarded contracts to many foreign companies many many years ago for drilling oil from Pakistan's soil.
Can any one tell me as how much oil has been drilled from Pakistan uptil now and where it has gone?
If the oil is been drilled from Pakistan itself than why a common man has to pay the increase in the oil price when it is increased in international market?
The oil producing countries like Saudi Arabia, UAE and other Gulf Countries do not increase the oil price in their respective countries for their citizens, when the oil prices are increased in the internationsl market, so why Pakistan is increasing the oil price for the common man when the oil is also been drilled from Pakistan?