ISLAMABAD: The federal government has announced that it will keep the prices of petroleum products at the level of May 17 ahead of annual budget 2021-22.
In a fortnightly review, the government decided to maintain the prices of petroleum for first half of June with effect from June 1.
The Finance Division stated, on Monday, “The prime minister has decided to maintain the prices of petroleum products as they were on May 17, 2021.”
The government has not increased the prices of the petroleum products since April 16, 2021 by adjusting general sales tax (GST) and petroleum levy (PL), so that there is no corresponding increase in the prices of essential items and maximum relief is provided to the common man.
The prices with effect from June 1, 2021 onwards will be as follows: petrol Rs108.56 per liter, high speed diesel (HSD) Rs110.76 per liter, kerosene oil (SKO) Rs80.00 per liter, and light diesel oil (LDO) Rs77.65 per liter.
The government has reduced the PL on HSD.
The government has increased the PL on petrol from Rs4.74 per litre to Rs4.80 or 6 paisa per litre. The government had already reduced the GST on SKO and LDO and there is no PL on both the products.
The Oil and Gas Regulatory Authority (Ogra) had recommended the government to increase the price of HSD by Rs4.36 per litre.
The regulatory body also had worked out 50 paisa increase in the price of SKO and LDO.
Copyright Business Recorder, 2021