Islamabad January 15, 2021: Government of Pakistan has increased prices of Petrol, High Speed Diesel (HSD), Kerosene and Light Diesel Oil (LDO) by PKR 3.01, PKR 3.00, PKR 3.00 and PKR 3.33 per litre.
The new effective prices will be MS (Petrol) PKR 147.83, High Speed Diesel (HSD) PKR 144.62, Kerosene (SKO) PKR 116.48 and Light diesel Oil PKR 114.54 per litre.
The petroleum products are showing fourth straight weekly gain and witnessed an increase of 6.2 percent 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.
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Against the recommendation of OGRA for increase of Rupees 5.52/litre in petrol and Rupees 6.191litre in HSD prices. The Prime Minister has directed to absorb the international 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 will be applicable with effect from 16th January, 2022.
