Petrol prices are set to rise even more from their present level of Rs209.86 per litre, according to sources, because of a summary produced by the Oil and Gas Regulatory Authority for an increase in petroleum product prices and submitted to the Petroleum Division.
Also affected are high-speed diesel oil, light diesel oil, and kerosene oil, among other petroleum-based goods.
The new rates will be established on the 16th of June, according to sources, after a review of the summary.
The ultimate say on gasoline prices will rest with Pakistani Prime Minister Shehbaz Sharif.
High-speed diesel received a subsidy of Rs23.3 per litre, petrol received a subsidy of Rs9.32, and light diesel received a subsidy of Rs8.8. The government has already eliminated the kerosene oil subsidy, and all petroleum products are now subject to no sales tax or petroleum charge.
Miftah Ismail, Pakistan’s Finance Minister, said Monday that Pakistan would default if the government did not reduce/end subsidies on petroleum goods declared by the previous PTI-led administration.
On the request to raise the price of gasoline, Miftah had confessed that legislators were not pleased with him. However, he justified his position by claiming that there was no other choice except to stop providing such aid.
Federal and three provincial governments have raised pay and pensions for government workers amid these choices and concerns that Pakistan might go bankrupt like Sri Lanka.
A 15% ad hoc relief on the running basic salary of BPS 2017 has also been included, as well as a transportation allowance, conveyance allowance, and transportation allowance.
Works at The Truth International Magazine. My area of interest includes international relations, peace & conflict studies, qualitative & quantitative research in social sciences, and world politics. Reach@ [email protected]
