PESHAWAR: The government has once again dropped “petrol bomb” on the masses by announcing a fuel hike Rs12.3 per liter after which petrol price reached record Rs159.86 per liter.
The Ministry of Finance has issued a notification to increase the prices of petroleum products which will remain in force till February 28. The price of petrol has been increased by Rs12.03 per liter, high speed diesel by Rs9.53 per liter, light diesel by Rs9.43 per liter and kerosene by Rs10.08 per liter.
After the recent hike, the price of petrol has been increased from Rs147.82 per liter to Rs 159.86 per liter, high speed diesel from Rs144.62 per liter to Rs154.15 per liter and light diesel from Rs114.54 per liter to Rs123.97 per liter. Similarly, the price of kerosene has been increased from Rs116.48 per liter to Rs126.56 per liter.
Earlier, the Prime Minister’s Office had received a summary of increase in prices of petroleum products from the Oil and Gas Regulatory Authority (OGRA), which was sent back by the Prime Minister for review. The summary had proposed an increase of Rs12 per liter in accordance with the conditions of International Monitory Fund (IMF). Sources said that the Prime Minister had sent a summary of the increase in petrol prices back to the Finance Ministry for review.
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.
Similarly, last week, 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.
.
