Record raise in oil rates recommended
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The Oil and Gas Regulatory Authority (OGRA) has sent the working for increasing prices of petroleum products, suggesting a record raise, 24NewsHD TV Channel reported.
The regulatory body prepared the working on the basis of minimum and maximum rates of petroleum levy and GST.
It proposed Rs51.32 per litre surge in the price of high-speed diesel while petrol price by Rs 21.30 per litre and an increase in the price of kerosene by Rs36.5 per litre while the price of light diesel by Rs38.89 per litre in the recommendations
Working has also been prepared by levying Rs30 on petrol and diesel and 17% GST.
Accordingly, it was proposed to increase the price of high-speed diesel by Rs 119 per litre increase petrol price by Rs 83.50 per litre and the price of kerosene by Rs 77.56 per litre.
Under the second working, a proposal has been sent to increase the price of light diesel by Rs 77.31 per litre. Prime Minister Shahbaz Sharif will seal the fate on April 16.
Before coming to power after ousting Imran Khan from the premiership, Shehbaz Sharif kept on criticising the former's team to deal with oil price control matters
He called the increase an act of oppression on the part of the government which was not only ‘corrupt’ but also a ‘liar’,
In a statement, he said there was no end in sight to the inflation as long as the Pakistan Tehreek-i-Insaf (PTI) was in office.