Islamabad (March 01, 2018): Pakistan Peoples Party (PPP) Co-Chairperson Asif Ali Zardari has condemned the federal government’s decision to increase prices of the petroleum products and directed his parliamentarian to stage protest demonstration in the house.
Zardari termed the decision of increasing the oil prices an extremely cruel move against the masses. He said the decision will create more problems for the poverty-stricken people.
Click Play Button To Watch This Video:
Zardari said that the Nawaz Sharif should not take revenge from the masses over his disqualification. The PPP leader said that the country could not go on the path of development by slapping heavy taxes on the masses.
Earlier, Federal Government has increased petroleum products prices today. The new prices will be effective from today.
The Federal government, on the recommendations of Oil and Gas Regulatory Authority, has once again increased petroleum product prices effective from March 01.
Click Play Button To Watch This Video
According to the ministry of finance, the price of petrol has been increased by Rs 3.56 per litre, diesel by Rs2.63 per litre, Kerosene oil by Rs6.28 per litre and Light Diesel by Rs 1 per litre.
With current price hike, the petrol will be retailed at Rs 88.07 per litre, diesel Rs98.45, Kerosene Rs76.46 per litre and Light Diesel Rs 65.30 per litre.
The new prices will be effective from midnight today.
It may be noted here that the government had also raised prices of petroleum products last month.
Earlier on Tuesday evening, Oil and Gas Regulatory Authority (OGRA) forwarded a summary to finance ministry recommending Rs 3.56 per litre hike in petrol price.
The regulators recommended the ministry to hike prices of petroleum products for the month of March with an upward revision of petrol price by Rs 3.56/litre and that of high-speed diesel by Rs 6.94/litre.
Summary dispatched to the ministry has sought increase in prices of light-speed diesel and kerosene oil by Rs 1/litre and Rs 6.28/litre.
Apart from this, petroleum levy of Rs8 per litre is also collected from the consumers. The proposed increase in diesel price will have a direct bearing on the life of consumers as it will stoke inflationary pressure.
The government has burdened petroleum consumers with a higher general sales tax over the past couple of years in the wake of plunge in global crude prices.
Ogra has proposed 17% sales tax on petroleum products in an attempt to maintain price stability and generate revenues.
On the recommended prices, the Federal Board of Revenue (FBR) will charge 17% sales tax on petrol, light diesel oil and superior kerosene oil. In addition to this, the government is collecting Rs10 per litre in petroleum levy on petrol, Rs6 per litre on kerosene oil and Rs3 per litre on light diesel oil.
Revised prices of petroleum products will be enacted after Prime Minister (PM) Shahid Khaqan Abbasi’s approval.
Related News:
