Kerosene has also been decided to be cheaper by Rs 15 per litre, the price of diesel will remain at the current level, the new prices will be applicable from 12 pm tonight
Islamabad (Urdu Point Newspaper Latest. 28 February 2023) Government’s announcement to make petrol 5 rupees cheaper. According to the details, Federal Finance Minister Ishaq Dar has announced a reduction in the prices of 3 petroleum products for the first 15 days of March 15. It has been decided to make petrol, light speed diesel and kerosene cheaper from March 1. According to the government’s decision, petrol has been reduced by Rs 5 to Rs 267 per liter while kerosene has been reduced by Rs 15 to Rs 187 per litre.
Diesel price will remain at the current level of Rs 280 per litre, however Light Speed Diesel will be available at Rs 184 per litre, a reduction of Rs 12. The newly announced prices will be applicable from 12 PM tonight. According to media reports, 2 proposals were given to the federal government regarding the determination of new prices of petroleum products by Ogra.
According to the first proposal sent to the federal government, it was proposed to impose GST on the prices of petroleum products following the IMF conditions.
In the proposal sent by OGRA regarding petroleum product prices, OGRA proposed to impose GST of 2 to 5 percent per liter on petrol and diesel. A GST of Rs 5 to 10 per liter was proposed on diesel. It was proposed to increase the price of petrol by Rs 5 44 paise on imposition of two percent GST, while it was said that if five percent GST is imposed, the price of petrol may increase by Rs 13 60 paisa.Ogra also suggested maintaining the prices of petroleum products. The position was taken that in the last fifteen days, a decrease in the prices of crude oil was recorded in the global market. Ogra suggested in a second summary that prices could also be maintained by levying taxes commensurate with world markets. On the other hand, Ogra increased the price of LPG. LPG price hike notification issued by Ogra. According to media reports, the price of LPG has increased from Rs 266 to Rs 278 per kg, while the price of domestic cylinders has been increased by Rs 136 and commercial cylinders by Rs 525, as a result of which the price of domestic cylinders has increased from Rs 3141 to Rs 3278. done