By News report
ISLAMABAD: Owing to the increasing crude oil prices in the international market, the government Thursday raised the petrol price by Rs5.40 per litre and that of high-speed diesel (HSD) by Rs2.54 per litre for the next fortnight.
Similarly, the prices of kerosene and light-diesel oil (LDO) have also been increased by Rs1.39 and Rs1.27 per litre respectively.
With the increase, the petrol will now sell at Rs118.09 per litre, diesel at Rs116.53, kerosene at Rs87.14 and LDO at Rs84.67. The new prices will be effective from Friday (today) to the end of the month.
A statement released by the finance ministry said the government had been providing maximum relief to the consumers by reducing the prices of petroleum products since April 2021. It said although the international oil prices had been on the rise, the government took the decision not to pass the entire burden of increase on to the consumers. The rate of sales tax and petroleum levy have been adjusted in a manner
July 15, 2021
ISLAMABAD: Gap in demand and supply of gas is expected to reach 4.2 billion cubic feet per day (bcfd) by FY2030-31 from 1.3 bcfd, in the fiscal year of 2019/20, Oil and Gas Regulatory Authority (Ogra) said.
The indigenous gas production fell 10 percent to 2,138 million cubic feet per day (mmcfd)) in last fiscal year from 2,379 mmcfd a year earlier and gas consumption declined 6 percent to 3,714 mmcfd from 3,969 mmcfd during the corresponding period.
In a report on ‘state of the regulated petroleum industry 2019-20’ on Wednesday, Ogra said the deficit between production and consumption was partially met through import of liquefied natural gas whose share in natural gas supplies increased from 27 percent to 29 percent during the year.
The government has decided to once again deregulate the LPG pricing and wants to create a competitive marketplace. Reuters/File
LIQUEFIED Petroleum Gas (LPG), which is the so-called poor man’s fuel, is once again at the mercy of policymakers facing a policy reversal instead of improvement.
The process for even the policy reversal is moving at a snail’s pace. By the time it reaches the implementation stage, the current political government will be at the last leg of its rule and may not be able to deliver the desired results, leaving the poor man of the far-flung areas at the mercy of market forces.
LPG scam surfaces during emergency moot
Importers of liquefied petroleum gas minted around Rs20b due to misuse of incentive
The local industry said that LPG is a poor man’s fuel and it is essential to keep its prices at a affordable level, which is not reflected in LPG Policy. PHOTO: AFP
ISLAMABAD:
Private sector importers pocketed billions of rupees due to misuse of the government’s Liquefied Petroleum Gas (LPG) Policy 2015 – a fact revealed during an emergency meeting that the Petroleum Division held on Sunday to discuss the new LPG policy with relevant stakeholders.
Under the 2015 policy, the local LPG producers paid 17% general sales tax (GST) whereas the importers paid only 10% GST due to an incentive announced for them by state-run Pakistan State Oil (PSO) and the Sui Southern Gas Company (SSGC).
Meeting to discuss LPG policy today tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.