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ISLAMABAD: Federal government has announced increase in the prices of Superior Kerosene Oil (SKO) and Light Diesel Oil (LDO), however, the prices of petrol and High Speed Diesel (HSD) have been kept unchanged for second half of March, effective from March 16.

Finance Division states that as no Petroleum Levy (PL) is being charged on SKO and LDO, the prices of SKO and LDO have been “marginally” increased by Rs3.42 per litre and Rs2.19 per litre, respectively, due to a significant rise in the international prices of POL products’.

The prescribed price of SKO has been increased to Rs 68.59 per litre from Rs 65.67 per litre.

The rate of petroleum levy has been kept at zero while general sales tax has also been raised from Rs 11.65 per litre to Rs 12.15 per litre.

The government has also adjusted PL on both petrol and HSD to absorb the increase in prices of Brent internationally. “The Government of Pakistan has been absorbing the upward price fluctuation in international market in order to provide maximum relief to the end consumers. Despite very limited fiscal space, the government has decided that the prices of MS (Petrol) and High Speed Diesel (HSD) will remain the same,” the statement said.

The government has increased cost of supply/ex-refinery price of petrol by Rs 1.42 per litre from Rs 72.62 to Rs 74.04 per litre. Whereas petroleum levy is reduced by Rs 1.42 per litre from Rs 12.65 to Rs 11.23 per litre. The rate of general sale tax has been fixed at Rs 16.26 per litre, which is similar to what it was at the level of first half of current month.

It has been learnt that the PL on HSD has increased by 24 paisa from Rs 12.53 per lire to Rs 12.77 per litre.

According to the announcement, the price of petrol and HSD will remain unchanged at Rs 111.9 per litre and Rs 116.07 per litre, respectively.

The price of kerosene oil has been increased by Rs 3.42 per litre bringing the new rate to Rs 83.61 while the price of LDO has been hiked by Rs 2.19 per litre, bringing the new rate at Rs 81.42 per litre.

Copyright Business Recorder, 2021

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