The Oil and Gas Regulatory Authority (OGRA) is set to submit its recommendations to the government on June 30 for consideration.
Islamabad: Brace for a substantial rise in petroleum product prices starting July 1, as government sources hint at a potential increase. If the levy charges are further hiked, petrol prices could surge by Rs 7.54 per liter and diesel by Rs 9.84 per liter for the upcoming 15 days.
A proposed increase in levy charges by Rs 5 per liter could see petrol prices jump by Rs 12.54 per liter and diesel by Rs 14.84 per liter. The final decision will be made on June 30 in consultation with the Finance Division.
The Oil and Gas Regulatory Authority (OGRA) is set to submit its recommendations to the government on June 30 for consideration. Prices of kerosene and light diesel oil are also likely to be affected. Kerosene could see an increase of Rs 7.70 per liter, while light diesel might rise by Rs 8.73 per liter.
In the proposed finance bill, the government has suggested increasing the levy charge to a maximum of Rs 80 per liter, marking a significant policy shift.
Fuel Levy Hike to Rs 70 Announced: Major Shift in Budget Plans
ISLAMABAD: Finance Minister Muhammad Aurangzeb has announced a revised decision to increase the levy on petrol and diesel to Rs 70, withdrawing the earlier proposal of Rs 80.
In his closing speech on the budget amendments in the National Assembly, Aurangzeb highlighted key economic improvements. He noted that inflation has decreased from 38% to 18%, and foreign exchange reserves have surged to $9 billion. Additionally, the government aims to raise the tax-to-GDP ratio from 9.5% to 13%.
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Aurangzeb also emphasized the government’s commitment to green energy, stating that there will be no duty on solar panels. He outlined plans for digital reforms, the elimination of tax evasion and corruption within the Federal Board of Revenue (FBR), and a phased privatization strategy over the next 2 to 3 years.
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