Govt kept POL prices unchanged

News Image

By MG News | February 01, 2022 at 12:50 AM GMT+05:00

0:00

January 31, 2022 (MLN): Despite rising petroleum prices globally, the government on Monday kept petroleum product prices unchanged, rejecting OGRA’s proposal to increase POL prices by up to Rs. 16.79/Litre.

According to a press statement issued by the finance ministry, the Prime Minister desired that petroleum product prices shall remain the same from 1st February 2022 as notified earlier on 15th January 2022 for providing maximum relief to the general public.

The Prime Minister has further desired to keep the prices at the same level through adjustments in Sales Tax if required, it added.

The statement said that the petroleum products are showing a substantial increase in the international market and presently trading at the highest level since 2014. The oil prices have witnessed an increase of 14.5% just in last month in the global market.

It further noted that the existing Sales tax rate and Petroleum Levy on various petroleum products are much below the budgeted targets.

The Government is bearing the revenue loss of around Rs.30 billion (fortnightly) on account of budgeted to existing PL and ST rates and Rs260 billion annually due to reduced ST rate, it added.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 128,199.43
336.91M
2.05%
2572.11
ALLSHR 79,787.62
1,023.63M
1.53%
1202.91
KSE30 39,105.00
121.90M
2.49%
951.21
KMI30 186,915.61
131.16M
1.10%
2029.11
KMIALLSHR 54,201.88
553.60M
0.81%
438.07
BKTi 33,476.68
51.49M
4.87%
1555.00
OGTi 27,962.58
9.77M
0.68%
188.60
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 106,170.00 106,205.00
105,440.00
420.00
0.40%
BRENT CRUDE 67.16 67.29
67.05
0.05
0.07%
RICHARDS BAY COAL MONTHLY 97.50 97.50
97.50
0.70
0.72%
ROTTERDAM COAL MONTHLY 103.80 103.80
103.80
-3.45
-3.22%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.47 65.65
65.34
0.02
0.03%
SUGAR #11 WORLD 15.70 16.21
15.55
-0.50
-3.09%

Chart of the Day


Latest News
July 02, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 01, 2025 at 10:04 PM GMT+05:00

Pakistan’s trade deficit improves by over 9% in June


July 01, 2025 at 05:24 PM GMT+05:00

Gold price in Pakistan rises Rs6,600 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg