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Business & Finance

Hike in POL rates expected as OGRA summary sent to PM

  • It has also been recommended to levy 17 percent GST and Rs 30 levy on the prices of petroleum products.
15 Jan 2021

A summary of the Oil and Gas Regulatory Authority (OGRA) has been sent to Prime Minister Imran Khan, as the final decision on the change in rates of the POL products will be taken by the premier today (Friday.

As per details, the government is likely to increase the price of petroleum products by Rs 5 to 7 per liter.

According to OGRA's summary, the price of petrol has been increased by Rs 13.7 per liter, high-speed diesel by Rs 11.3 per liter, kerosene by Rs 10.55 per liter, and light diesel by Rs 15.33 per liter.

It has also been recommended to levy 17 percent GST and Rs 30 levy on the prices of petroleum products.

Weeks ago, Prime Minister Imran Khan approved increase of Rs. 2.31 and Rs. 1.80 in the prices of petrol and diesel, contrary to OGRA’s recommendation of Rs. 10.68 and Rs. 8.37 respectively. The decision was taken keeping in view the government’s priorities for maximum possible steps to provide relief to the masses, a PM Office statement said.