OGRA recommends large hike of Rs20 in oil product

OGRA recommends large hike of Rs20 in oil product

ISLAMABAD: The Oil and Gas restrictive Agreement (OGRA) has once more counseled a vast hike of up to Rs20 per cubic decimetre within the worth of oil product from March one.

According to a outline sent to the Prime Minister’s workplace, the regulator has counseled a rise in Rs20.7 per cubic decimetre within the worth of fuel. the value of diesel has been counseled to be multiplied by Rs19.61 per cubic decimetre.

The current worth of fuel is Rs111.90 per cubic decimetre, High-Speed Diesel (HSD) at Rs116.07, lightweight diesel fuel (LDO) Rs79.23 per cubic decimetre, and kerosine oil at Rs80.19 per cubic decimetre.

Earlier this month on Gregorian calendar month sixteen, Prime Minister Imran Khan has rejected OGRA’s proposal to extend the value of oil product.

In the interest of public welfare, the PM didn’t approve the advice of skyrocketing costs of oil product, oral communication that the govt. can head to any lengths to supply relief to the individuals.

OGRA had forwarded a outline to the prime minister seeking a rise of Rs14.07 per cubic decimetre within the worth of fuel and Rs13.61 per cubic decimetre within the worth of high speed diesel. The authority had conjointly counseled a rise within the worth of kerosine oil by Rs10.79 per cubic decimetre.

OGRA had based mostly the counseled rates on a levy of Rs30 per cubic decimetre. the present rate of oil levy is Rs21.04 per cubic decimetre on fuel and Rs22.11 per cubic decimetre on HSD. the govt. is additionally charging terrorist organization general nuisance tax (GST) on oil product.

During the last 2 and 0.5 months, the govt. had multiplied costs of oil product up to Rs16.37 per cubic decimetre. Since Dec one, 2020, the govt. has multiplied the value of fuel by Rs11.21 per cubic decimetre, HSD Rs14.64 per cubic decimetre, kerosine oil Rs14.90 per cubic decimetre and LDO Rs16.37 per cubic decimetre.

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