PESHAWAR: The government is likely to increase the prices of petroleum products again as Oil and Gas Regulator Authority (OGRA) has sent a summary of Rs8.5 per liter hike due to rise in prices of petroleum products at International Market.
Petroleum products are likely to see further hike from February 16. Similarly, OGRA has also sought an increase of Rs5.5 per liter hike in diesel price.
According to sources, OGRA has demanded the increased in rates on the basis of the existing levy. If the federal government increases the levy, the hike in petrol prices would be much more than asked by the regulatory authority. However, there is less possibility of further reduction in levy on petroleum products.
Sources said that the final decision regarding fuel hike will be taken by the Prime Minister Imran Khan which will be formally announced tomorrow [15 February].
On Friday, the National Electric Power Regulatory Authority (NEPRA) has approved to increase electricity tariff by Rs3.10 per unit in terms of monthly Fuel Price Adjustment (FPA). The NEPRA on Saturday has approved to increase the price of electricity on the request of Central Power Purchasing Agency (CPPA) on which public hearing was held on February 1, 2022. According to the notification, the increase in electricity tariff will be applicable only to the bill for the month of February.
Similarly, the PTI government has decided to further increase electricity tariff for consumers by Rs80 paisa to reduce circular debts which was one of the demands of the International Monitory Fund (IMF). The circular debt in the energy sector has exceeded Rs2476 billion and according to the Cabinet Committee on Energy, Rs292 billion will be obtained from consumers by increasing the electricity prices of Rs80 paisa. However, the experts believe that it will be impossible to tackle the issue of circular debt by increasing power tariff.
