Govt allows Rs9.42 increase in petrol price
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ISLAMABAD: The federal government on Saturday night allowed a massive increase in the prices of petroleum products, raising the price of petrol by Rs9.42 and kerosene by Rs7.46 per litre.
The new prices of petrol and kerosene are Rs108.31 and Rs96.77, respectively.
The new price will come into effect from May 5 (today).
Through a late-night notification, the government increased the sales tax on motor spirit, excluding HOBC, by 10pc; high speed diesel by 4pc; kerosene oil by 9pc and light diesel oil by 8pc.
Previously, the rate of sales tax on motor spirit was 2pc, 13pc on high speed diesel, 8pc on kerosene and 9pc on light diesel oil.
The new price of petrol would be Rs108.31 per litre while the price of high speed diesel has been increased by Rs4.89 to reach Rs122.32 per litre.
The price of kerosene oil and light diesel has been increased by Rs7.46 and Rs6 per litre.
On Friday, the Economic Coordination Committee (ECC) of the cabinet had approved the recommendations of the Oil and Gas Regulatory Authority (Ogra) regarding increase in prices of petroleum products.
Ogra had suggested that the price of petrol be increased by Rs14.37 per litre, but the ECC meeting, chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh, approved an increase of Rs9.34 per litre in its price.
Sources said that a notification about the increase in the prices of petroleum products was directly sent to the oil marketing companies by Ogra.
Published in Dawn, May 5th, 2019
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Comments (48) Closed
May 05, 2019 10:26am
If same trend continues and forecast report comes true then in few months petrol rate will reach 130 RS/litres.
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May 05, 2019 10:26am
Yesterday an article about freedom of press, and today all comments criticizing the state are removed.
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May 05, 2019 10:35am
Pakistan econmmy is looming
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May 05, 2019 10:47am
Good move by govt
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May 05, 2019 10:52am
Good move by government
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May 05, 2019 11:01am
This is really big time for Pakistan. So many challenges to establish the country. Unfortunately Two brothers can't help each others.
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May 05, 2019 11:11am
Naya Pakistan
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May 05, 2019 11:21am
Everything gets expensive with increase in fuel prices. This is really going to break the back of the poor.
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May 05, 2019 11:27am
Global crude oil prices did not rise.
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May 05, 2019 11:38am
Ramazan gift for the people
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May 05, 2019 11:55am
The burden of increase in the prices of petrol and petroleum products are shifted by the government to end users.
During last 9 months since PTI came into power and Imran Khan became PM all sorts of economic burdens have been passed on to poor and middle class people by announcing couple of mini budgets whereas announcement of annual budget is still awaited.
PTI government borrowed millions of US dollars from friendly countries and still looking for bail out package from IMF.
To satisfy a common man PTI removed its finance minister Asad Umar and then fired Governor State Bank and Chairman FBR who are replaced by the blue eyed boys of IMF.
The performance of PTI government is seen no where for taking steps for decreasing the inflation and people of Pakistan have become silent spectators as what Imran Khan PM is doing for the country.
Accusing previous governments can't satisfy people of Pakistan. People want to see what is the efficiency of PTI government itself and nothing else.
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May 05, 2019 12:13pm
Petrol prices are still cheap in comparison with India. There is a lot of scope to increase it to 150. Taxes of petroleum products are lower in Pakistan. Why government is not increasing tax on petrol ?
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May 05, 2019 12:16pm
Shame shame shame
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May 05, 2019 12:35pm
@Anwar, i think so tge proper rate is 150 rupees.this is still heavily subsidised
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May 05, 2019 12:52pm
Too many hikes too frequently.. this will lead to hyper inflation
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May 05, 2019 12:53pm
Still cheap. 150 Rs per litre needed.
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May 05, 2019 12:55pm
Petrol prices in India are INR 75 per liter, which works out to 150 Pakistani rupees. So, fuel prices in Pakistan will still be a lot lower than in India, despite the price hike. They will be lower than or on par with gas prices in the US.
While fuel hikes will increase inflation, it will hopefully reduce the import bill and preserve precious forex. Also it should yield more tax revenue to the govt.
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May 05, 2019 01:10pm
Shameful to say the least. In PmLN in 2013 when crude price was $92 we saw fuel price at 113/litre and now when crude price has reduced to $62 the Pakistan fuel rate is still $110/litre. How much more burden can a govt put on common people like us. The GOvt is taking away taxes of around 50 now
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May 05, 2019 01:22pm
To reach the equilibrium price and cut off subsidy, Rate of 140 is necessary to conpensate for revenue shortfall.
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May 05, 2019 01:36pm
Devaluation failed to raise exports... Only made necessary imports more expensive.
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May 05, 2019 01:37pm
PMIK please lower this.
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May 05, 2019 01:42pm
In October 2013 petrol was Rs 113.25 we all know who was in power then still PTI is much better .
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May 05, 2019 01:56pm
Rise on oil price will plunge the market and shoot up inflation..with sanction on Iran coming to full effect oil price will rise again
......wish pakistan and china ignore US sanctions and continue to buy oil from Iran...
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May 05, 2019 01:57pm
This is only the beginning. Wait till June -July for further jumps.
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May 05, 2019 02:09pm
Lets be worried about the inflation this brings. Food prices will go up and many more poor families suffering.
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May 05, 2019 02:46pm
Time to face tough measures to make up for profligacy.
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May 05, 2019 02:51pm
Agreed that Govt. needs revenue. However the Petrol prices must come down by December 2019. IK should take a call on the reduction of Petrol Price..
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May 05, 2019 02:51pm
Here in India, Petrol price rate is 78 INR pL = 156 PKR pL. Thus, 96 PKR pL is too much cheaper compare to India.
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May 05, 2019 02:56pm
Petrol is Pakistan is too cheap compared to other non oil producing countries.
Only the rich and middle class in Pakistan have cars.
increase in Petrol prices does not affect poor people.
Government needs to invest heavily in public transport so that petrol prices can only be a headache for rich people.
The price of petrol is fine, the problem arises due to lack of public transport
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May 05, 2019 03:03pm
The price can easily be raised to around 130-140/- range and then they will be in line with the rest of the region. Pakistan still has the cheapest petrol and the government being short on revenue can raise taxes on it.
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May 05, 2019 03:03pm
Ramazan package.
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May 05, 2019 03:06pm
The government cannot reduce the cost so only way is to introduce cheaper transport for the masses
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May 05, 2019 03:06pm
Naya Pakistan of captain!
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May 05, 2019 03:25pm
Cheaper than India. In India petrol is $1 per litre.
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May 05, 2019 03:29pm
That's no much.
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May 05, 2019 04:10pm
@SUDHANSHU KUMAR, just few years back pakistan was among 15 countries with cheapest petrol in the world. But now things are changing fast.
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May 05, 2019 04:11pm
@Anwar, It is still cheaper than the international rates, Much cheaper than India or any nearby countries.
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May 05, 2019 04:18pm
Kerosene is used by the poor. Why this increase now? Wasn't it announced by IK himself that there might be rich deposits of oil and gas off-shore.
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May 05, 2019 04:40pm
@SUDHANSHU KUMAR, ever heard about purchasing power parity Einstein ?
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May 05, 2019 05:00pm
Consumer price of Petrol in India is about Rs. 80/- Indian Rupee ( Pakistani Rs. 164 approx ) Hence, we can conclude that Petrol in Pakistan is very much cheaper.
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May 05, 2019 05:31pm
Very good all subdisise on petrol gas electric food must be removed immediately . People enjoyed enough. Now build Naya Pakistan on your feet and work hard to generate money for next Pti tenure.
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May 05, 2019 05:34pm
after elections, whatsoever government comes, india too would have to face the same.
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May 05, 2019 05:41pm
Do away with fuel subsidies.........India has done the same.......the people will learn to adjust.
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May 05, 2019 06:07pm
Still cheaper than what we have in India, People in general want all facilities ,but are not ready to pay the price. Considering the situation that pakistan is in , some tough steps are needed
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May 05, 2019 06:10pm
Make it 200 !!, let PTI supporters be happy
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May 05, 2019 06:42pm
@Siddhartha singh Chandel,
and still quality of life is better than yours .
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May 05, 2019 08:36pm
As per the IMF it should have been raised to 170.
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May 05, 2019 10:04pm
@Wak, which quality? food is highly altered, your water is among the worst in world, fuel quality is worst, car manufactured are having so much difference in quality that is produced in India,
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