Karachi February 15, 2022: Government of Pakistan has increased prices of Petrol, High Speed Diesel (HSD), Kerosene and Light Diesel Oil (LDO) by PKR 12.03, PKR 9.53, PKR 10.08 and PKR 9.43 per litre.
The new effective prices will be MS (Petrol) PKR 159.86, High Speed Diesel (HSD) PKR 154.15, Kerosene (SKO) PKR 126.56 and Light diesel Oil PKR 123.97 per litre.
Government increase prices as the prices of Petroleum Products are showing drastic increase in the international market and presently are at the highest level since 2014.
Despite the unabated increase since the beginning of the year, Prime Minister Imran Khan deferred the last review of Petroleum Products’ prices on 31. January, 2022 and advised against the summary of OGRA. In order to provide utmost relief to the consumers, Government levied zero per cent Sales Tax and reduced Petroleum Levy rate against the budgeted targets. Resultantly, Government is bearing the revenue loss of around Rs. 35 billion (fortnightly) on account of budgeted to existing PL and ST rates.
In the fortnightly review of Petroleum Products’ prices, Prime Minister has considered the recommendation to increase the prices of petroleum products in line with change in the international oil prices. Despite the increase in the prices of Petroleum Products, PL and ST have been kept to the minimum.
The new prices of Petroleum Products will be effective from 16th February, 2022.
