ISLAMABAD, Feb 16 ( Alliance News): Pakistan Tehreek-e-Insaf ( PTI) government has increased the prices of petroleum products by Rs 10 to 12 per liter till February 28.
According to official sources, the decision has been made after keeping view the recent increase is aimed at raising international oil prices and additional petroleum levy as promised by the International Monetary Fund (IMF). To meet the effects of application.
Finance Ministry announces decision to hike prices after Prime Minister Imran Khan agrees to increase levy on all petroleum products by Rs 4 per liter. Agreed to keep the promise made to keep.
However, the rate of GST on all petroleum products remained unchanged at zero.
In the last 15 days, crude oil prices have risen by almost 3% in the international market to 95 95 a barrel.
A statement issued by the Ministry of Finance said that the Prime Minister had approved the recommendation to increase the prices of petroleum products in line with the change in international oil prices. According to the notification issued by the Ministry of Finance, the ex-depot price of petrol has been fixed at Rs 159.86 per liter instead of Rs 147.83 per liter, with an increase of Rs 12.3 per liter or 8.14%.
Petroleum levy on petrol has been increased from Rs 13.92 to Rs 17.92 per liter. The government is also levying customs duty of Rs 12 per liter on petrol.
The price of high speed diesel has been increased by Rs9.53 per liter or 6.6%, after which the ex-depot price of high speed diesel (HSD) has been increased from Rs144.62 to Rs154.15 per liter.
Petroleum levy on HSD has been increased from Rs 12 per liter while customs duty has been increased from Rs 9.30 per liter to Rs 13.30 per liter.
The ex-depot price of kerosene also increased by 10 rupees 8 paise or 8.65 percent from 116 rupees 48 paise to 126 rupees 56 paise per liter. Petroleum levy on kerosene was increased from 1 rupees to 5 rupees per liter.
The ex-depot price of Light Diesel Oil (LDO) has also increased by Rs9.43 or 8.23% from Rs114.54 to Rs123.97. Petroleum levy on light diesel oil has been increased from Rs5.50 to Rs9.50. Per liter.
The prices of all jet fuels have also been increased, JP-1 has been increased by Rs 11 per liter to Rs 140.65 while the price of JP-8 has been increased by Rs 7 per liter to Rs 135.72 paise.
In addition, ETN fuel (ethanol petrol) has also been increased by Rs 10 per liter, after which its price has gone up to Rs 157.35. The price of these three products includes 17% GST but petroleum levy is zero Is.
Announcing the price hike, the Finance Ministry said that the prices of petroleum products in the world market are witnessing a sharp rise and this is the highest level since 2014.
Interestingly, in 2014, the local prices of petrol and high speed diesel were between Rs 110 and Rs 120 per liter.
The Finance Ministry statement further said that the Prime Minister had postponed the revision of prices on January 31 but had provided relief to consumers through reduction in GST and OL and had incurred a loss of about Rs 15 billion. ۔
At present, GST on all major products including petrol, high speed diesel, kerosene and light diesel oil is zero compared to 17% of normal GST. It is levying petroleum levy on LDO at Rs9.50 per liter, kerosene at Rs5 and high actin at Rs30 per liter.
The government is also levying a customs duty of about Rs 12 per liter on petrol and HSD.