Islamabad, January 15, 2022 (PPI-OT):The petroleum products are showing fourth straight weekly gain and witnessed an increase of 6.2% just in last week in the international market. Presently, at the highest level since last year. The existing Sales Tax rate and Petroleum Levy on various petroleum products are much below the budgeted targets.
Against the recommendation of OGRA for increase of Rupees 5.52/litre in petrol and Rupees 6.19/litre in HSD prices, the Prime Minister has directed to absorb the interactional prices through further cut in Sales Tax from last fortnight.
The Finance Ministry will take Rupees 2.6 billion revenue hit due to reduced Sales Tax. Therefore. The Government has decided to make partial increase in the prices of the petroleum products in order to provide relief to the end consumers.
The new prices of petroleum products with effect from 16. January, 2022 will be as follows: Product Existing Prices w.e.f 01-01-2022 New Prices w.e.f. 16-01-2022 (Rs./ Litre) Increase / (-)Decrease MS (Petrol) 144.82 147.83 +3.01 High Speed Diesel (HSD) 141.62 144.62 +3.00 Kerosene (SKO) 113.48 116.48 +3.00 Light diesel Oil 111.21 114.54 +3.33
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