POL reduced by Rs3 per litre

Web Desk
July 01, 2011

ISLAMABAD: Prices of petroleum have been reduced by Rs3 per litre against the decline of petrol prices by Rs5.30 per litre in the international market.The shrewd regime this time did not decrease...

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ISLAMABAD: Prices of petroleum have been reduced by Rs3 per litre against the decline of petrol prices by Rs5.30 per litre in the international market.
The shrewd regime this time did not decrease the POL prices as per the decline in petroleum product prices in the international market. Rather, it passed on to consumers less relief compared to the reduction in POL prices in the global market, The News has learnt.
The Ministry of Petroleum and Natural Resources, according to a document available with The News, proposed to the government to pass on the full relief of the decline of POL prices registered in the international market to the end consumer, but the authorities in Ministry of Finance provided the partial relief to the consumers and not 100 percent.
When contacted, Petroleum Minister Dr Asim Hussain also confirmed that his ministry had advised the government to pass on to consumers 100% relief according to the reduction of petroleum product’ prices in the global market.
The ministry had proposed to reduce petrol prices by Rs5.30 per litre, but the mandarins at the Finance Ministry acted swiftly and passed on partial relief to consumers by reducing petrol prices Rs3 per litre.
The government instead cleverly increased the petroleum levy by Rs2.30 per litre bringing the petroleum levy to Rs5.46 per litre, as earlier levy on motor gasoline (petrol) was Rs3.16 per litre.
Likewise the price of diesel (HSD) has also been cut by Rs2 per litre, but the authorities concerned have increased the petroleum levy by Rs1.71 per litre to Rs2.15 per litre on diesel from the earlier levy of Rs0.44 per litre.
Kerosene oil has been maintained at the earlier price of Rs84.65 per litre. However, a petroleum levy of Rs1.59 per litre has been imposed on this product. The price of HOBC has been increased by Rs2.21 per litre with petroleum levy at Rs6.43 per litre. The price of Jet Pilot-1 has been decreased by Rs2.37 per litre and JP8 by Re 0.84 per litre.



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