The federal government announced on Saturday that it had maintained the prices of oil products without changes for the next fortnight.
“The government has decided to maintain the prices of all oil derived products at current levels,” said a notification of the Finance Division.
The price of high speed diesel (HSD) remains RS258.64, RS255.63 for gasoline, RS168.12 for chest oil and RS153.34 for light diesel oil (LDO).
Price notification occurred shortly after Prime Minister Shehbaz Sharif announced that fuel prices would remain unchanged, while the government would work in a package to reduce the price of electricity.
According to a statement from the Office of the Prime Minister, the Government chose to maintain fuel prices without changes “and transmit all financial benefit to the public in electricity prices.”
“A package is ready to provide great relief to the public in electricity prices through the financial capacity created by the difference in oil prices in the global market and other measures,” reads the statement, and added that it would be announced in the coming weeks.
The statement continued: “This relief will not only reduce electricity prices, but will also have an impact on general inflation, which will lead to additional reduction.”
The non -change in today’s prices occurs after the prices of all oil derived products were estimated at RS14 per liter for the next fortnight, which ended on March 31, due to fluctuation in the international market and import imports.
An official had said that there were considerations by the Government to absorb a part of the price mattress to increase oil tax or impose carbon tax to obtain additional financing of $ 1 billion of the International Monetary Fund (IMF) for adaptation and climatic mitigation.
According to existing tax rates, the informed sources had said that it was estimated that the ex-sports of gasoline decreased around RS14 depending on the final calculation of March 15, followed by RS8 per liter cut in HSD, RS10 per liter in Kerosto and LDO for approximately RS7 per liter.
Estimates for the lowest gasoline prices come from some decrease in its international rates and import premiums. Reference Brent prices had decreased by approximately $ 3 per barrel during the last 10 days.
Gasoline is mainly used in private transport, small vehicles, Rickshaws and two -wheeled vehicles, and directly affects the budget of the middle and lower classes. The majority of the transport sector works with HSD. Its price is considered inflationary, since it is mainly used in heavy transport vehicles, trains and agricultural motors such as trucks, buses, tractors, wells and tubes trillators, and in particular it adds to the prices of vegetables and other grocery.
The Government charges around RS76 per liter of taxes on gasoline and HSD. Although the General Sales Tax (GST) is zero in all oil derived products, the government charges RS60 per liter Levy (PDL) in both products, which normally affects the masses. According to the law, the government has the mattress of increasing PDL to a maximum of RS70 per liter.
The government also charges around RS16 per liter of customs duty on gasoline and HSD, regardless of local production or imports. In addition, around RS17 per liter of distribution and sales margins are charged by oil companies and their distributors in both products.
