Skip to main content

OGRA proposes reduction in petroleum price; summary awaits PM’s approval

ISLAMABAD: As the international price on petroleum products has lowered, the Oil and Gas Regulatory Authority (OGRA) has put forth a proposal to reduce prices of all the major POL products in the country.

In the view of declining petroleum prices globally, the recommendation was put forward to pass on the benefit of lower prices to Pakistani consumers with relative stability in exchange rate.

A summary for petroleum price revision for the month of September has been sent to the Ministry of Finance and after the Prime Minister’s approval, the adjusted price will be announced for the public, a senior government official said.

In accordance with the existing rate of general sales tax and petroleum levy, Ogra has suggested the new ex-depot high-speed diesel (HSD) price at about Rs106 per litre, down by about Rs6.50 per litre.

Similarly, the ex-depot petrol price has been proposed at about Rs93 per litre, down by Rs2.23 while kerosene price is likely to recede by about 70-paisa per unit to Rs83.25 per litre.

Whereas, the ex-depot price of light diesel oil has been estimated to increase by about 70-paisa per litre to Rs76.05.

On July 7, the caretaker government decided to reduce petroleum prices in order to provide relief to the general public.

The then federal cabinet decided that sales tax rates would be reduced from 17% to 12% for Motor spirit and Kerosene Oil, from 31% to 24% on High Speed Diesel and from 17% to 9% on Light Diesel Oil.

The post OGRA proposes reduction in petroleum price; summary awaits PM’s approval appeared first on ARYNEWS.



from ARYNEWS https://ift.tt/2NGd5fm
Labels:

Comments

Post a Comment

Popular posts from this blog

Trump says he urged team to ‘slow’ COVID-19 testing

US President Donald Trump said Saturday he was encouraging health officials in his administration to slow down coronavirus testing, arguing that increased tests lead to more cases being discovered. The president has claimed falsely on several occasions that surges of COVID-19 in several states can be explained by greater numbers of diagnostic tests. At his first rally since the outbreak forced nationwide shutdowns in March, Trump told the crowd in Tulsa, Oklahoma that testing was a “double-edged sword.” The United States — which has more deaths and cases than any other country — has carried out more than 25 million coronavirus tests, placing it outside the top 20 countries in the world, per capita. “Here is the bad part: When you do testing to that extent, you are going to find more people, you will find more cases,” Trump argued. “So I said to my people ‘slow the testing down.’ They test and they test.” It was not clear from Trump’s tone if he was playing to the crowd, who ...
Post a Comment
Read more

Sir Anwer Pervez, richest Pakistani British businessman, loses £432m in pandemic

Sir Anwar Pervez OBE, the founder and chairman of Bestway Cash & Carry has lost £432 million during the coronavirus pandemic to bring him down to No 50 on the richest British people list. The list has 1,000 people and is published by the Sunday Times newspaper . Pervez was at No 42 previously.  The 2020 list of the UK’s richest shows its first fall in wealth in a decade as Britain’s wealthiest people lost tens of billions of pounds in the coronavirus pandemic, the Sunday Times reported in its Rich List 2020. The newspaper, which has produced the respected annual ranking of the country’s 1,000 wealthiest people since 1989, found the past two months had resulted in the super-rich losing £54 billion ($65 billion). More than half of the billionaires in Britain had seen drops in their worth by as much as £6b, a decrease in their collective wealth unprecedented since 2009 and the financial crisis. The Hinduja brothers, who topped last year’s list with a £22b fortune, saw among ...
Post a Comment
Read more

Despite reservations about jury, Pakistan to implement FATF reforms: envoy

WASHINGTON: Despite its reservations about the fairness of the jury which is to determine Pakistan’s performance against terror financing, the government is committed to implementing its action plan for dealing with this issue, says Islamabad’s Washington envoy Asad Majeed Khan. In a conversation with a prominent US scholar George Perkovich, recorded at the Carnegie Endowment for International Peace in Washington on Monday afternoon, Ambassador Khan said the actions that Pakistan had taken so far to eliminate terror financing were “reflective of the political will”. “We feel that we have done a lot. We are also clear and determined to do more,” said the envoy while responding to a question about a meeting of the Financial Action Task Force (FATF) held in Orlando last week, which asked Pakistan to implement its own action plan for eliminating terror financing by October. Failing to do so could put Pakistan on a blacklist of violators and bring strict economic sanctions too. “But we w...
Post a Comment
Read more